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Housing

Luxury Housing Cluster Transforms Bandra Reclamation in Mumbai

Strategic Insights

— 1 min read

The quiet colony of Bandra West, where government employees once resided, has evolved into a prime address for luxury housing. The transformation began with the redevelopment of housing societies built in the 1950s by the Maharashtra Housing Authority (MHADA) to cater to the middle and low-income groups. These modest homes, once occupied by engineers and state government employees, are now being redeveloped into high-end, sea-facing properties with panoramic views, sky lounges, and upscale amenities.

Key Takeaways:

  • The Bandra Reclamation area was part of a larger city planning vision by MHADA, which built dozens of housing societies to address Mumbai's housing needs.
  • The 26 housing societies on KC Marg in Bandra Reclamation were primarily built for middle and low-income groups, but are now being redeveloped into luxurious high-rises.
  • The upcoming sea-facing projects in KC Marg offer seamless access to the Coastal Road, Bandra-Worli Sea Link, and key business hubs, making it a coveted address.
  • The old buildings are being replaced with swanky towers that rise 40 to 50 storeys high, with luxury residences priced between 6-12 crore a unit.
  • Residents in the area have access to a wide range of amenities, including the Bandra Fort, Bandstand Promenade, and the sea, making it an attractive location for residents.
  • The strategic location, infrastructure developments, and growing demand have led to properties in KC Marg showing good appreciation in value over time.
  • Luxury housing projects in Mumbai, such as the one in Bandra Reclamation, contribute to the city's booming real estate market, with prices reaching as high as 639 crore for a duplex apartment.

Statistics:

  • 26 housing societies on KC Marg in Bandra Reclamation were built by MHADA.
  • Prices for luxury residences in Batra Reclamation range between 6-12 crore a unit.
  • The old buildings in the area are being replaced with 40-50 storey high-rise towers.
  • The area offers seamless access to the Coastal Road, Bandra-Worli Sea Link, and key business hubs.
  • Properties in KC Marg show good appreciation in value over time due to its strategic location and infrastructure developments.
  • The value of a duplex apartment in Mumbai reached 639 crore earlier this year.

Sources:

  • Virendra Vora, Promotor and Managing Director, Excel Infra Construction.
  • Kailas Sinari, Partner, Surefire, a project management firm.
  • Deepak Singh, who runs Bridge the App for real estate brokers.
  • The article is provided by SyndiGate Media Inc.

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