Adani Realty Launches Luxury Mumbai Projects

Adani Realty plans to launch premium and luxury residential projects in Mumbai this year, including a cluster redevelopment project in Goregaon and an ultra-luxury project at Bandra Reclamation. The Goregaon project will be developed on 5-6 acres of land and will include around 1,300-1,400 homes, mostly two- and three-bedroom apartments priced at ₹34,000-35,000 per sq ft.

The Bandra project, on the other hand, will offer 140 homes of about 5,000 sq ft each, priced at around ₹120,000 per sq ft. The project will also feature penthouses that can be customized in size, ranging from 10,000 sq ft to 20,000 sq ft, along with a branded club.

Adani Properties was appointed by Maharashtra Housing and Area Development Authority (Mhada) to redevelop Motilal Nagar in Goregaon (West) last year, after emerging as the highest bidder for the ₹36,000-crore project. The 142-acre project will involve the construction of apartments for sale as well as housing units for existing residents under the rehabilitation component.

The launch of these projects is a significant move for Adani Realty, which has aggregated a large land bank across Mumbai and Navi Mumbai that it plans to develop gradually. The company's focus on the Mumbai market is driven by the city's growing demand for luxury and premium residential projects.

## Why it matters The launch of these projects is expected to have a significant impact on the Mumbai real estate market, which has seen a surge in demand for luxury and premium properties in recent times. The projects are also expected to generate significant revenue for Adani Realty, which is looking to establish itself as a major player in the Indian real estate market.

The redevelopment of Motilal Nagar is also a significant project for Adani Properties, which will involve the construction of housing units for existing residents under the rehabilitation component. The project is expected to provide a major boost to the local economy and will help to transform the area into a modern and upscale residential hub.

## What happens next The launch of the Goregaon and Bandra projects is expected to take place later this year, with prices ranging from ₹34,000 to ₹120,000 per sq ft. The company is expected to start construction for the rehabilitation component of the Motilal Nagar project this year, which will involve the construction of housing units for existing residents. The project is expected to be completed in several phases, with the first phase expected to be launched soon.