Archive · 28 Sep 2026
Godrej Properties Plans ₹6,000 Crore Luxury Project in Marine Lines
Godrej Properties plans to build luxury homes in Marine Lines, Mumbai.
The project will use 2.5 acres of land.
It could generate about ₹6,000 crore in revenue.
Man Infraconstruction Ltd, or MICL, and Shreepati Group previously held the development rights.
The agreement transfers those rights to Godrej Properties.
MICL will still receive a share of the project’s revenue.
MICL also expects to recover more than ₹300 crore it has already invested.
The companies believe demand is strong because Marine Lines is well connected and has limited available land.
Godrej Properties signed a development agreement for a 2.5-acre luxury housing project in Marine Lines, South Mumbai.
The project has an estimated revenue potential of around ₹6,000 crore.
Development rights previously held by Man Infraconstruction Ltd and Shreepati Group have been transferred to Godrej Properties.
Man Infraconstruction Ltd will share project revenue, recover more than ₹300 crore in existing investment, and jointly brand the development.
Mumbai sales of homes priced at ₹10 crore or more rose 12% to ₹18,512 crore in the first half of the year.
- Who
- Godrej Properties and Man Infraconstruction Ltd, with Shreepati Group previously holding the development rights.
- What
- A development agreement for a 2.5-acre luxury housing project with estimated revenue potential of around ₹6,000 crore.
- When
- Announced on Monday; the articles do not provide a calendar date.
- Where
- Marine Lines, South Mumbai, Mumbai.
- Why
- Godrej Properties is expanding its Mumbai portfolio to serve demand for premium homes in an established area with limited land availability and strong connectivity.
Project optimism
Market caution
Prospects for the development
Project optimism
Godrej Properties said its luxury projects in Mumbai have received a consistently strong response and cited Marine Lines’ location, connectivity and limited land availability.
Market caution
The project’s land value has not been disclosed, while one article cited industry estimates placing it above ₹1,000 crore. Godrej Properties shares also fell about 1.95% on Monday, and another report said the stock was down 16.56% so far this year.
- Developers
- Godrej Properties and Man Infraconstruction Ltd (MICL)
- Project location
- Marine Lines, South Mumbai
- Land area
- 2.5 acres
- Estimated revenue potential
- Around ₹6,000 crore
- Development rights
- Previously held by MICL and Shreepati Group; transferred to Godrej Properties under the agreement
- MICL benefits
- Revenue sharing, recovery of more than ₹300 crore in existing investment, and joint branding
- Luxury housing market
- Mumbai sales of homes priced at ₹10 crore or more rose 12% to ₹18,512 crore in the first half of the year
Sources
Godrej Properties strengthens Mumbai luxury portfolio, adds Rs 6,000 crore project in Marine Lines
Godrej Properties partners with MICL to build luxury housing project in Mumbai; expects revenue potential of ₹6,000 cr
Godrej Properties eyes ₹6,000 crore revenue from luxury housing project in Mumbai's Marine Lines