Marine Lines Luxury Housing
Godrej Properties Secures Marine Lines Site for Luxury Housing Project Worth ₹6,000 Crore
Anonymous
Godrej Properties has signed a development agreement for a roughly 2.5-acre site in Marine Lines, South Mumbai, where it plans a luxury housing project with estimated revenue potential of about ₹6,000 crore. The company said limited developable land and access to business, cultural and lifestyle districts—including via the Coastal Road—support the site’s appeal. It cited strong buyer interest in its premium projects in South and Central Mumbai as evidence of demand for well-located luxury homes. Mumbai sales of homes priced at ₹10 crore or more reached a record ₹18,512 crore in the first half of the year, up 12% year over year.
Key Points
1
The ₹6,000-crore revenue estimate is based on Godrej Properties’ current business assumptions, rather than being a guaranteed return.
2
Godrej Properties cited its existing South and Central Mumbai projects, Godrej Trilogy in Worli and Godrej Avenue Eleven in Mahalaxmi, as developments that have received encouraging buyer responses.
3
The record first-half sales value for Mumbai homes priced at ₹10 crore or more was attributed to both higher sales volumes and price increases.
4
Godrej Properties shares were down 1.48% at ₹1,675 on the NSE at 10:27 a.m. on September 28.
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