Godrej Properties Ltd, a leading real estate developer with a presence across major Indian cities, has entered into a development agreement for a prime land parcel of approximately 2.5 acres in Marine Lines, South Mumbai.
The proposed project will be developed as a luxury housing development and has an estimated overall revenue potential of ₹6,000 crore. The acquisition strengthens the company’s presence in Mumbai’s premium residential market.
Project targets luxury housing demand
Marine Lines is one of Mumbai’s established residential micro-markets, characterised by limited land availability, a rich heritage and an established neighbourhood fabric.
The location also offers connectivity to the city’s major business, cultural and lifestyle hubs, including through the Mumbai Coastal Road, supporting demand from end-users and affluent homebuyers.
Company builds South Mumbai portfolio
Godrej Properties said the proposed development builds on the response to its existing projects in South and Central Mumbai.
The company’s Godrej Trilogy in Worli and Godrej Avenue Eleven in Mahalaxmi have received an encouraging response, highlighting continued demand for premium and luxury residences in these markets.
Developer sees long-term potential
“Mumbai continues to be a key market for us, and our premium and luxury projects in the city have seen a consistently strong response,” Godrej Properties, Managing Director & Chief Executive Officer, Gaurav Pandey, said.
“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,” he said.
Marine Lines adds strategic location
The company said the project will benefit from Marine Lines’ strategic location along Mumbai’s coastline and its proximity to established commercial and lifestyle destinations.
The development will add to Godrej Properties’ portfolio of luxury housing projects in Mumbai as the company continues to expand its presence in premium residential markets.