₹1,000 Crore Redevelopment Project Planned on Bandra West Plot

A prime one-acre redevelopment parcel off Carter Road in Bandra West is set to be transformed into a luxury residential development.

Supreme Universal has secured development rights for the sea-view property and plans to invest approximately ₹1,000 crore in the project.

The parcel includes two bungalows acquired earlier, with the remaining residents of the housing society subsequently brought into the redevelopment plan.

Society and resident consent has been secured, and the project will now move towards obtaining regulatory approvals.

Construction is expected to begin within the next two quarters. Once work commences, the development is estimated to take approximately three-and-a-half years to complete.

The project is planned around large-format luxury residences with a strong emphasis on privacy and openness. Private sea-facing terraces are expected to form part of the residences, along with a sizeable terrace garden overlooking the sea.

For Mumbai’s development market, the transaction demonstrates why society redevelopment and aggregation of existing properties have become increasingly important.

In established locations such as Bandra West, developers cannot depend on large vacant land parcels. Unlocking existing properties through redevelopment provides one of the few opportunities to create sizeable new luxury projects.

Sandeep Sadh’s Take:

“Bandra West has demand but very limited fresh land supply. That makes well-structured redevelopment one of the most important sources of new luxury inventory in the micro-market.”