Godrej Properties to Develop ₹6,000 Crore Luxury Housing Project in South Mumbai

Godrej Properties Ltd is set to jointly develop a luxury residential project in South Mumbai with an estimated revenue potential of around ₹6,000 crore, adding another premium housing development to its Mumbai portfolio. 

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The project will come up on a land parcel of approximately 2.5 acres in Marine Lines. Godrej Properties has entered into a development agreement for the site, according to a regulatory filing cited in the report. 

The upcoming development will be positioned in the luxury housing segment. 

Man Infraconstruction Partners With Godrej Properties 

Man Infraconstruction Ltd (MICL) has partnered with Godrej Properties for the Marine Lines project. 

Development rights for the property were jointly held by MICL and Shreepati Group and have now been transferred to Godrej Properties. MICL will have a revenue-sharing arrangement with Godrej Properties as part of the transaction. 

The project will also be jointly branded under the collaboration. 

MICL is expected to recover around ₹300 crore of its existing investment in the project. The transaction is also expected to provide the company with earlier cash flows, which can be used for other development opportunities and expansion in Mumbai. 

Mumbai’s Luxury Residential Homes Sales Cross ₹18,512 Crore 

This is amid the backdrop that Mumbai's luxury residential sector saw a rise in its sales. 

The sale value of luxury residential units in the price range of ₹10 crore and above rose by 12% to ₹18,512 crore in the first half of 2026, according to India Sotheby’s International Realty and CRE Matrix data shared in the report. 

This rise has been driven by more sales volume and prices. 

Godrej Properties Targets ₹39,000 Crore in Sales Bookings 

Godrej Properties has targeted to book sales worth ₹39,000 crore in the current financial year. 

During the FY2025-26, Godrej Properties booked sales worth ₹34,171 crore. The company booked the largest sales among all other listed real estate companies in the country in FY2025-26.