Godrej Properties will create premium residential project in South Mumbai’s Marine Lines; Stock declines
By Bricksnwall | 2026-09-28
Godrej Property is expected to rake in Rs
6,000 crore in total income from the project.
The real estate firm in a report to the
exchange on September 28 stated Godrej Properties has engaged in a
development pact for a land block of about 2.5 acres in Marine Lines, South
Mumbai.
The project has been pitched as a luxury
house development in one of Mumbai’s most desirable residential micro markets
with an estimated overall potential revenue of Rs 6,000 crore.
Marine Lines is well connected with the
city’s business, cultural, and leisure areas, especially along the Coastal Road.
This makes it a hot favorite with developers and buyers.
Mumbai continues to be an important market
for us, and we have witnessed a steady response to our premium and luxury
projects in the city. "The response to our tailor-made developments in
South Mumbai is particularly pleasing and gives us confidence in the long-term
attractiveness," said Gaurav Pandey, MD and CEO, Godrej Properties.
Marine Lines is one of the most prestigious
addresses in the city, and we are happy to add this landmark opportunity to our
portfolio,” he added.
Godrej Properties was quoting Rs 1,675 per
share, down 1.48% on NSE at 10:27 am on September 28.
Sales of luxury residences costing Rs 10
crore and above in Mumbai rose 12 percent to a record Rs 18,512 crore in the
first half of FY26, according to property consultant India Sotheby’s
International Realty and real estate data analytics firm CRE Matrix.
Source: Hindustan Times
