Godrej Properties Ltd has entered into a development agreement for a 2.5-acre prime land parcel in Marine Lines, South Mumbai, where it plans to develop a luxury housing project with an estimated revenue potential of around ₹6,000 crore, the company said in a regulatory filing on September 28.
Marine Lines is characterised by limited land availability, a rich heritage, an established neighbourhood fabric, and a strategic location along Mumbai’s iconic coastline. Owing to its connectivity to the city’s premier business, cultural, and lifestyle hubs, particularly through the Coastal Road, the area continues to attract strong demand from end-users and affluent buyers, the company said in a statement.
The encouraging response to Godrej Properties’ developments at Godrej Trilogy in Worli and Godrej Avenue Eleven in Mahalaxmi further underscores sustained interest in high-quality luxury residences across South and Central Mumbai, it 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,” Gaurav Pandey, MD and CEO, Godrej Properties, said.
Mumbai ranks 8th globally with prime residential prices rising 6.2% YoY in Q2 2026
Mumbai ranked eighth globally in Knight Frank’s Prime Global Cities Index Q2 2026, with prime residential prices rising 6.2% year-on-year (YoY), more than twice the 2.6% growth recorded across the 46-city global index. Prime prices in the Mumbai real estate market also rose 1.7% quarter-on-quarter (Q-o-Q) in Q2, pointing to continued strength in the city’s top-end residential market.
Mumbai’s luxury housing market, comprising homes priced at ₹10 crore and above, saw sales touch a record ₹18,512 crore in H1 CY2026, up 12% year-on-year from ₹16,518 crore in the corresponding period last year, driven by higher transaction volumes and steady price appreciation.
Homes measuring 2,000-4,000 sq ft remained the most sought-after, contributing 58% of primary market sales, a report by property consultant India Sotheby’s International Realty and real estate data analytics firm CRE Matrix has said.
Also Read: Mumbai ranks 8th globally with prime residential prices rising 6.2% YoY in Q2 2026: Report
