- ‘Bandra Bay’ Sets To Make Mumbai as the ‘Waterfront Capital’ of India with a Premium Development Potential of Over Rs 1 Lakh Crore
- To Redefine Luxury Living with a Likely Premium Residential and Retail Development of about 8 million Sq. Ft.
Mumbai, October 17, 2025: ‘Bandra Reclamation’ is seeing a complete makeover and a new Marina is coming up in Bandra, announced Mr. Ashish Shelar, Minister of Information and Technology and Cultural Affairs, Government of Maharashtra while launching an exclusive report: Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment, jointly developed by Lighthouse Luxury and CRE Matrix.
The new Marina will come up in Bandra in two years time and the whole belt of Bandra Bay will not only make it the best futuristic living landmark; but along with many redevelopment projects coming in, the area will see more open spaces, new sports facilities and other lifestyle avenues, added Mr Shelar while releasing the report.
As per the Report, termed as ‘Bandra Bay’ by the real estate developers’ fraternity, Mumbai is soon set to become the ‘Waterfront Capital’ of India like Palm Jumeirah in Dubai and Marina Bay in Singapore. The Report has estimated that the new waterfront destination in Bandra has a development potential of over Rs 1 Lakh crore with various ultra-luxury real estate projects being planned along the emerging Bandra waterfront. Positioned as India’s most sought – after luxury waterfront development, the ‘Bandra Bay’ area will see a massive development of nearly 8 million sq. ft. of premium residential and retail projects, estimated the report.
Talking further about the development of Bandra Reclamation where the ambitious ‘Bandra Bay’ – waterfront development – has been planned, Mr Shelar stated that the region has witnessed a massive policy and developmental shift in approach and actions. He said, “Before 2014, there were three authorities responsible for regulation and development of societies under Bandra Reclamation – one being MMRDA for all permissions, Bombay Municipal Corporation for services and MHADA for land related matters. But I brought these complexities to the notice of the then chief minister Shri Devendra Fadnavis with a request to resolve this issue of having three authorities responsible for administration of Bandra Reclamation and bring it within the purview of a single planning authority and accordingly, the Chief Minister took a decision to retain it within the purview of Bombay Municipal Corporation.”
According to Mr Shelar, this decision resolved some major issues like sewer connection, as it was shifted to BMC. A major policy shift was the Regulation 33(5) of the Development Control and Promotion Regulations (DCPR) in Mumbai, which governs the redevelopment of housing schemes owned by the Maharashtra Housing & Area Development Authority (MHADA), that was separate earlier and there was no provision for the MHADA – owned land society development. He added, “Now, this facility of redevelopment under 33-5 DCPR has been shifted to the BMC. We are soon going to execute 33-9 or CIG.” He further mentioned that a redevelopment process of the transit camp is underway by clearing all litigations.
Mr Shelar informed that considering the per square meter population to the entire city, and a ratio of open space to per person, if the entire city has 1.2 square kilometer per person as open space ratio, the Bay Bandra have more than 3.2 square kilometer per person open space in reclamation.
Talking about various development initiatives being taken place at Bandra Reclamation, he maintained that earlier, the sewage water was discharged in the bay without any treatment. He said, “Bandra is the first place where with Rs 1000 crore investment, one of the first waste water treatment facilities is being constructed that will save the sea water quality of the Arabian Sea. We are creating six acres of garden on the top of the waste water treatment facility, which is underway.”
Speaking about the sports, education and health infrastructure in the region, Mr Shelar informed that Bandra has state-of-the-art sports facilities including a full-sized football ground, athletic track, an open space for archery, a Cricket Academy by Jatin Paranjpe and a shooting range in the soundless container. He stated, “With all of these and supported by education institutes and healthcare facilities, Bandra Bay is turning to be the super neighbourhood of Mumbai.”
Mr Shelar informed about a few initiatives in the pipeline such as a soon – to – be – completed, full – sized swimming pool, a football ground opposite to Rangsharda Hotel that is being created under Mumbai District Football Association and a five-star hotel.
He concluded that environment, infrastructure, innovation, planning – wise Bandra Bay is the best place in the middle of suburbs.
Meanwhile, the Report stated that Bandra Bay is set to become India’s and Mumbai’s most sought – after luxury waterfront development with a massive development of nearly 8 million sq. ft. of premium residential and retail projects. The report evaluated the potential of an upcoming waterfront to turn into a global ultra-luxury residential and mixed use development destination at par with Singapore’s Marina Bay or Palm Jumeirah of Dubai.
The event witnessed the presence of eminent dignitaries including Mr. Sanjeev Jaiswal, Vice President & CEO – MHADA; Shri Milind Borikar, Vice Chairman – MHADA; Dr. Niranjan Hiranandani, Chairman, Hiranandani Group; Mr. Vijay Thakkar, Chairman, DLH; Mr. Shyamal Mody, Partner, Elements Realty; Mr. Ayush Madhusudan Agrawal, Director, Inspira Realty; Mr. Mahesh Patel, Director, Gurukrupa Realcon; and Mr. Virendra Vora, Managing Director, Excel Group. The report was jointly presented by Mr. Sumesh Mishra, Founder, Lighthouse Proptech and Mr. Abhishek Kiran Gupta, CEO, CRE Matrix.
