Mumbai’s Bandra Bay will witness development of luxury housing and retail projects worth over Rs 1 lakh crore in the coming years as real estate developers look to encash rising demand for waterfront properties, according to a report.
Lighthouse Luxury and data analytics firm CRE Matrix have released a joint report ‘Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment’, stating that nearly 8 million sq ft of premium residential and retail projects are planned in Bandra Bay location.
“Mumbai is soon set to become a ‘Waterfront Capital’ of India with a new waterfront belt emerging alongside Bandra-Kurla Complex, a bustling business district and a luxury residential cluster of Mumbai,” the report said.
Bandra Bay has a development potential of over Rs 1 lakh crore with various ultra-luxury real estate projects being planned along the emerging Bandra waterfront, it added.
“Bandra Bay is set to become the most prestigious and ambitious luxury waterfront redevelopment in Mumbai.