Adani Realty plans its biggest luxury project in Mumbai

Adani Realty is planning to develop its biggest luxury residential project in the prime, sea-facing Bandra Reclamation area, as the developer builds its real estate presence in Mumbai.

- BY S VENKAT NARAYAN OUR SPECIAL CORRESPONDENT

The project, which is at the design and planning stage, will be developed over 20 acres located along the Bandra-Worli Sea Link approach road, facing the Mahim Bay, which belongs to the state agency Maharashtra State Road Development Corporation (MSRDC), said two people in the know of the developments.

Last year, Adani Realty emerged as the top bidder for the redevelopment of the land, outbidding L&T Realty, which was the only other eligible bidder in the bid process. Once the approvals are procured, the first phase of the project, spread across roughly five acres, will begin development.

Mumbai, India's most valuable property market, has steadily become Adani Realty's core real estate-focused geography. So far, the company has built premium homes in Mumbai, the most expensive among them being 'Ten BKC,' which sells at INR60,000-70,000 per square foot.