Mumbai’s coastal residential market is witnessing fresh momentum, with luxury redevelopment projects worth nearly Rs 6,000 crore expected to be launched over the next eight to nine quarters, according to a report by real estate consultancy JLL.
The report estimates that around 75 to 80 redevelopment projects, comprising more than 250 premium residential units, are in the pipeline across the city’s coastline.
Ritesh Mehta, Senior Director, Residential Advisory Services, India, JLL, said the growing preference for larger homes and waterfront living, coupled with significant infrastructure improvements, is reshaping demand across Mumbai’s coastal micro-markets.
Traditionally, locations such as Bandra, Juhu, Worli and South Mumbai have enjoyed a premium due to their sea-facing locations. However, JLL noted that connectivity constraints had historically limited the full potential of several waterfront neighbourhoods. With major transport projects improving accessibility, investor interest is now spreading to coastal and creek-facing areas in the western suburbs.
According to the report, the next phase of luxury housing growth is likely to emerge in locations such as Malad, Borivali and the extended western corridor, where larger land parcels, scenic waterfront views and enhanced connectivity are attracting Grade A developers. These factors are expected to create new opportunities beyond Mumbai’s established luxury residential hubs.
JLL highlighted the transformative impact of infrastructure projects such as the Mumbai Coastal Road, which has reduced travel time between Worli and Marine Drive from around 35–40 minutes to just 10–15 minutes under normal traffic conditions.
The upcoming Versova–Bandra Sea Link is also expected to improve connectivity along the western coastline by cutting travel time between Versova and Bandra from nearly 45–60 minutes to approximately 10–15 minutes.
The report added that Mumbai’s luxury housing market continues to remain resilient despite limited supply. Strong demand for premium residences has resulted in record half-yearly luxury home sales, reflecting sustained buyer interest in high-end properties across the city.
Source: Business Standard
