Mumbai-based real estate developer Supreme Universal has secured development rights for a 1-acre land parcel off Carter Road in Bandra West, with an estimated revenue potential of around ₹1,500 crore, and plans to invest approximately ₹1,000 crore to develop a luxury and ultra-luxury residential project. Envisioned as one of the tallest towers in the neighbourhood, the project will offer expansive ocean views, along with residences focused on privacy, open spaces and lifestyle-led amenities, the company said.
According to media reports, the land parcel comprises two early 20th-century bungalows, Gladhurst and Kavas Lodge, which Supreme Universal acquired from a Parsi family. The bungalows are located on land belonging to the Wavelash and Sunbeam housing societies.
The developer acquired the bungalow parcel a few months ago and has since onboarded other residents of the societies to expand the redevelopment’s scope. The company has received the consent of the housing society and its residents and is expected to begin the approval process shortly, media reports said.
Construction is expected to commence within the next two quarters, with the project estimated to be completed in around 3.5 years, according to media reports.
According to the company statement, the opportunity is significant given the scarcity of large, developable land parcels along the Carter Road coastline, one of Mumbai’s most tightly held luxury residential markets.
“An approximately one-acre contiguous parcel along the Bandra West coastline represents an increasingly rare development opportunity in MMR, particularly as demand for large-format, high-ticket luxury residences continues to gravitate towards established neighbourhoods with structurally constrained A-grade supply,” the company statement said.
“Finding a land parcel of this scale in Bandra West, particularly so close to the coastline, is increasingly rare. Our vision is to create a development that responds to what luxury homebuyers genuinely value today—space, privacy, openness, and thoughtfully designed experiences. A defining feature will be the private sea-facing terrace planned for every residence, complemented by one of the largest terrace gardens overlooking the ocean,” said Sunny Bijlani, Joint Managing Director, Supreme Universal.
“We want residents to experience the sea and outdoors as an integral part of everyday living. Bandra West has always been one of Mumbai’s most aspirational residential destinations, but land constraints have traditionally limited the scale of amenities that developments can offer. This parcel gives us the opportunity to rethink that experience. The sporting, wellness, social, work and entertainment amenities planned here will be exceptional for the Bandra coastline, with spaces designed to become a genuine extension of residents’ homes,” Bijlani said.
According to local brokers, the per-sq-ft price of apartments around Carter Road is above ₹1 lakh per sq ft.
Bungalow deals in the Mumbai real estate market
Mumbai’s bungalow market has seen several marquee transactions, underlining the scarcity and value of independent homes in prime locations. Hindustan Times Real Estate reported that at least half a dozen bungalow deals worth over ₹1,000 crore were registered in the two years. This includes the ₹221 crore sale of Juhu’s heritage Leela bungalow recently, and the ₹276 crore sale of Laxmi Nivas on Nepean Sea Road. More recently, Villa Wilson in Juhu sold for ₹135 crore, while actor John Abraham purchased a Bandra West bungalow for ₹84 crore.
Mumbai’s redevelopment projects
Mumbai’s real estate redevelopment market grew 16% in 2025 compared to the previous year, driven by a rise in redevelopment deals across the city. A total of 229 development agreements (DAs) for the redevelopment of old buildings were signed in 2025, up from 196 in 2024, according to data from Knight Frank India.
The momentum continued into 2026, with nearly 30%, or 70, of the total redevelopment agreements for 2025 signed within the first 74 days of the year, up to March 15, the data showed.
Also Read: Mumbai redevelopment: Why some flat owners choose not to move back after redevelopment is complete
According to Knight Frank India data, a total of 1,094 DAs have been signed in the last six years, from January 2020 to March 15, 2026. A total of 432 acres of land has been unlocked for redevelopment through the signing of these 1,094 redevelopment deals.
