Godrej Properties has expanded its luxury housing portfolio in Mumbai with a proposed residential development in Marine Lines, South Mumbai, that has an estimated revenue potential of around Rs 6,000 crore.
The developer has entered into a development agreement for a 2.5-acre land parcel in Marine Lines, giving it an opportunity to strengthen its presence in one of the city’s most established and land-scarce residential markets. The company plans to develop the site as a premium housing project aimed at Mumbai’s high-end residential segment.
According to a company filing, the projected Rs 6,000 crore revenue potential is based on its current business assumptions. The development forms part of Godrej Properties’ broader strategy to increase its presence in Mumbai’s premium and luxury housing markets.
The company already has luxury projects in South and Central Mumbai, including Godrej Trilogy in Worli and Godrej Avenue Eleven in Mahalaxmi. Godrej Properties has said these developments have received a positive response from buyers, supporting its continued focus on high-value residential projects across the city.
Marine Lines offers several factors that could support the new development. The neighbourhood is located in South Mumbai, where opportunities to acquire large parcels of land for new residential construction remain limited. Its proximity to established commercial, cultural and lifestyle destinations further adds to its appeal.
Connectivity to different parts of Mumbai has also improved with major infrastructure developments, including the Coastal Road, potentially enhancing accessibility to the wider city.
The developer is positioning the project to cater to affluent homebuyers and end-users seeking residences in established South Mumbai neighbourhoods. The development is expected to add another high-end housing offering to a market where limited land availability and strong demand have supported premium residential activity.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “Mumbai continues to be a key market for us, and our premium and luxury projects in the city have seen a consistently strong response. Our tailor-made developments for South Mumbai have been particularly well received, which gives us confidence in the long-term attractiveness of well-located, high-quality homes in this market. Marine Lines is one of the city’s most prestigious addresses, and we are delighted to add this landmark opportunity to our portfolio.”
Source: Economic TImes
