Adani Realty is preparing to launch two premium and luxury residential projects in Mumbai, with developments planned in Goregaon West and Bandra Reclamation. The projects are expected to add more high-end housing to the city's residential market, with both currently in the final stages of approvals. Some site-level work has also begun, according to people familiar with the developments.
The first project is a cluster redevelopment in Goregaon West, where the developer plans to launch the initial 5-6 acres with around 1,300-1,400 homes. The second is an ultra-luxury development at Bandra Reclamation, with the first phase spread across five acres and comprising about 140 homes.
Goregaon project to offer 1,400 homes
The Goregaon West project will have predominantly two and three-bedroom apartments with prices expected to be in the range of Rs. 34,000-35,000 per sq ft. The initial phase will cover 5-6 acres of the larger cluster redevelopment.
The project will add a sizable number of new homes to the western suburbs, where redevelopment has become an important source of residential supply. Its positioning is different from the Bandra project, with a larger number of homes and a focus on premium apartments rather than ultra-luxury residences.
The project is also part of Adani Realty's wider redevelopment activity in Goregaon. The developer has been assigned to redevelop Motilal Nagar , a 142-acre project that includes housing units for the existing residents as well as apartments that will be open to the public.
Bandra project targets the ultra-luxury segment
The Bandra Reclamation development will cater to a much smaller segment of the residential market. Its first phase is planned across five acres and will include around 140 homes of approximately 5,000 sq ft each.
The homes are expected to be priced at around Rs. 1.2 lakh per sq ft and will be offered through an invitation-only sales process. The project will also feature customisable penthouses that range between 10,000 sq. ft to 20,000 sq. ft, and a branded club.
The project has already attracted interest from domestic high-net-worth individuals. However, the development remains subject to final approvals, meaning the reported configuration and launch details could change before sales begin.
Motilal Nagar adds to Adani’s Mumbai pipeline
Adani Realty's expansion in Mumbai goes further than just these two new residential projects. The real estate developer is also involved in the redevelopment of Motilal Nagar in Goregaon West, having been selected by the Maharashtra Housing and Area Development Authority (MHADA).
The project covers about 142 acres and has an estimated value of Rs. 36,000 crore for the redevelopment component. It will include rehabilitation housing for existing residents as well as a free-sale component. Construction of the rehabilitation component is expected to begin this year.
The Motilal Nagar project is significant for the developer's Mumbai portfolio, coming after its involvement in the Dharavi redevelopment. Adani Properties has also accumulated land across Mumbai and Navi Mumbai, which it plans to develop in phases.
Mumbai gains importance in Adani’s residential plans
The upcoming Goregaon and Bandra projects come as Adani Realty increases its presence across Mumbai's residential market. The company has also been involved in bids for other large MHADA redevelopment opportunities, including layouts in Bandra Reclamation and Worli.
The two new projects will target different parts of the premium housing market. Goregaon will bring a larger inventory of premium apartments, while Bandra Reclamation is positioned at the ultra-luxury end, with larger homes, customised penthouses and a limited first phase.
For Adani Realty, the developments add to a broader Mumbai pipeline built around redevelopment and premium residential projects. The pace at which these projects move forward will depend on the completion of approvals and subsequent construction activity.
