Mumbai’s Bandra Bay is set to transform into a luxury housing and retail hub, with projects worth over Rs 1 trillion (Rs 1 lakh crore) planned in the coming years as developers look to capitalise on rising demand for waterfront properties, according to a report. A joint report by Lighthouse Luxury and data analytics firm CRE Matrix, titled ‘Why Bandra Bay is Mumbai’s Most Iconic Waterfront Investment’, revealed that nearly 8 million sq ft of premium residential and retail projects are in the pipeline for the Bandra Bay area. Mumbai’s New ‘Waterfront Capital’ The report highlights that Mumbai is poised to become India’s ‘Waterfront Capital’, with a new belt taking shape alongside the Bandra-Kurla Complex (BKC) — a thriving business and luxury residential hub. It noted that Bandra Bay has a development potential exceeding Rs 1 trillion, with several ultra-luxury projects planned along the waterfront. Global Benchmark for Luxury Real Estate Describing Bandra Bay as Mumbai’s most ambitious luxury waterfront redevelopment, the report compared the area’s potential with Dubai Marina, Palm Jumeirah, and Singapore’s Marina Bay. It added that investors have a chance to own a slice of India’s most coveted real estate. Leading Developers on Board Around 11 developers, including Adani Realty, Hiranandani Communities, Oberoi Realty, Godrej Properties, L&T Realty, and The Wadhwa Group, are already developing projects in the region, with more firms expected to launch mixed-use developments soon. ‘India’s Most Desired Address’ Sumesh Mishra, Founder of Lighthouse Proptech, said Bandra Bay will become the most sought-after address in India, attracting ultra-high-net-worth individuals (UHNI), NRIs, and global investors seeking an iconic waterfront lifestyle. Abhishek Kiran Gupta, CEO of CRE Matrix, added, “Our data shows that Bandra Bay will emerge as Mumbai’s most valuable waterfront asset. Limited curated supply, elite demand, and unparalleled infrastructure synergy will drive sustained capital appreciation.”