Worli Sea Face is emerging as one of Mumbai’s most sought-after addresses for the city’s new generation of affluent residents, with its central location and exclusivity giving it an edge over Malabar Hill, while traffic and infrastructure issues are making parts of Bandra increasingly difficult to navigate.
Diamond merchant Karan Gulwani and lifestyle influencer Myra Gulwani discussed Mumbai’s luxury residential market during an episode of The Habitat with Vishal Bhargava. The couple spoke about the changing preferences of wealthy homebuyers, where premium sea-facing properties can command values of up to Rs 3 lakh per sq ft.
Karan said a direct comparison between Worli and Malabar Hill is difficult because Malabar Hill covers several distinct neighbourhoods. “You cannot compare Worli and Malabar Hill because Malabar Hill is a very large area. It covers a broad spectrum, including Walkeshwar, Banganga, Teen Batti and Nepean Sea Road,” he said.
Reflecting on his childhood, Karan recalled prominent buildings such as Urvashi and Silver Arch overlooking the Arabian Sea. “Now, the view is restricted to one corner. The area has become almost dead,” he said.
Myra summed up the shift in perception: “Malabar Hill represents the wealthy of the past, while Worli represents today’s wealthy.”
According to Karan, Worli’s strategic location and connectivity have helped elevate its status among high-net-worth buyers. He described Worli Sea Face as an unusually exclusive residential enclave. “Worli Sea Face, specifically, has become a closed billionaires’ club, which can never happen anywhere else,” Karan said.
He compared the area with DLF Camellias in Gurugram, where apartment transactions have crossed Rs 100 crore. “That is the closest parallel I can find to Worli Sea Face,” he said. “Startup founders such as Deepinder Goyal, Aman Gupta and Peyush Bansal live in Camellias.”
Karan said the appeal of such developments extends beyond property prices. “When people talk about Camellias, they talk about real estate prices. But this is about something beyond price,” he said. “It is the feeling of having become a billionaire and wanting your children to interact with the children of other billionaires. It reflects an emotion, a need and a desire.”
Why Bandra Is Becoming Difficult to Live In
Karan also criticised Bandra’s infrastructure, citing narrow roads and severe congestion despite the suburb’s celebrity residents.
“You cannot walk on the streets of Bandra,” he said. “Kareena Kapoor and Saif Ali Khan live there, but they are more likely to walk on the streets of London than on the streets of Khar or Bandra.”
He added, “Because of the narrow roads and the state of the infrastructure, I think living there is very difficult,” he said. “It once took us 45 minutes to cover the one or two kilometres after the Sea Link. Living there is unimaginable.”
The Price of a Sea-Facing Lifestyle
Worli’s seafront lifestyle also comes with practical challenges, including strong coastal winds. Karan said the financial threshold for living there is equally high.
“If you want to rent a home here, your annual income should be roughly Rs 1 crore,” he concluded.
Source: NDTV Profit
