Godrej Properties has expanded its presence in South Mumbai after signing a development agreement for a 2.5-acre land parcel in Marine Lines. The proposed luxury residential project is estimated to have a revenue potential of around Rs 60 billion, or Rs 6,000 crore, according to a regulatory filing dated September 28.
The project is set to come up in one of South Mumbai’s established neighbourhoods, where scarce land availability, heritage significance and proximity to the coastline continue to support premium residential demand. The company also highlighted Marine Lines’ connectivity to major commercial, cultural and lifestyle destinations, including improved access through the Mumbai Coastal Road.
Godrej Properties said its luxury developments, Godrej Trilogy in Worli and Godrej Avenue Eleven in Mahalaxmi, have received a positive response from buyers. According to the company, the performance of these projects demonstrates continued demand for premium homes across South and Central Mumbai.
Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said Mumbai remained a key market for the company and that its premium and luxury developments had received a consistently strong response. He said projects tailored for South Mumbai had been well received and that the Marine Lines opportunity would add a significant address to the company’s portfolio.
The latest project comes amid continued strength in Mumbai’s high-end residential market. The city ranked eighth in Knight Frank’s Prime Global Cities Index for the second quarter of 2026, with prime residential prices increasing 6.2 per cent year-on-year. This compared with a 2.6 per cent rise across the 46 cities covered by the index. Prices also climbed 1.7 per cent quarter-on-quarter.
Demand for ultra-luxury homes has remained firm as well. Properties priced at Rs 10 crore and above recorded sales worth Rs 18,512 crore during the first half of 2026, marking a 12 per cent increase from Rs 16,518 crore in the same period a year earlier.
Meanwhile, homes ranging between 2,000 and 4,000 sq ft accounted for 58 per cent of primary-market sales, according to India Sotheby’s International Realty and CRE Matrix.
Source: Mega Project
