Godrej Properties has entered into a development agreement for a land parcel in Mumbai’s Marine Lines, with plans to develop a luxury housing project that has an estimated revenue potential of Rs 6,000 crore. The proposed development will come up on approximately 2.5 acres in one of South Mumbai’s established premium residential micro-markets, strengthening the real estate developer’s presence in the city’s luxury housing segment. Marine Lines is known for its limited availability of developable land, established neighbourhood character, heritage appeal and strategic location along Mumbai’s coastline. The area also provides access to some of the city’s major business, cultural and lifestyle destinations, with improved connectivity through infrastructure such as the Coastal Road. These factors have helped sustain demand from end-users and affluent homebuyers seeking premium residential properties in well-connected parts of South Mumbai. Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said Mumbai remains a key market for the company and that its premium and luxury projects in the city have received a strong response. He said the company’s developments tailored for South Mumbai have also been well received, supporting its confidence in the long-term attractiveness of well-located, high-quality homes in the market. Pandey described Marine Lines as one of Mumbai’s prestigious addresses and said the company was pleased to add the opportunity to its portfolio. The latest project adds to Godrej Properties’ efforts to expand its presence in high-value residential markets while capitalising on demand for premium housing in established locations. Data from 99acres, a proptech platform, showed that average property prices in Marine Lines increased 14.3 per cent over the previous year to Rs 76,900 per square foot as of August 2026. The price movement highlights the strong value positioning of the locality, although actual prices can vary depending on the project, property configuration and location within the micro-market. The development agreement comes after a strong first quarter for Godrej Properties in the financial year 2027. The company’s bookings value rose 22 per cent year-on-year to Rs 8,651 crore in the first quarter. During the period, it sold 3,738 units covering a total area of 6.2 million square feet. New project launches were a major contributor to the quarter’s performance, including Godrej Vanantara in Bengaluru, which recorded bookings of Rs 3,237 crore. Godrej Samaris in Gurugram generated bookings of Rs 1,248 crore, while Godrej Brooklyn Avenue in Hyderabad recorded bookings of Rs 317 crore. The Marine Lines project is expected to add another significant luxury housing opportunity to the company’s development pipeline. Its location, scale and estimated revenue potential position it within Godrej Properties’ broader strategy of developing premium residential projects in markets with established demand and limited land availability. With Mumbai continuing to be an important market for the developer, the project is set to further expand its luxury housing portfolio in one of the city’s most established residential destinations. The project also reinforces the company’s focus on combining strategic land opportunities with development expertise to address demand for premium homes in Mumbai.
Godrej Properties Expands Mumbai Luxury Housing Portfolio With Marine Lines Project
