Supreme Universal secures 1-acre redevelopment plot in Mumbai’s Bandra west

Real estate developer Supreme Universal has secured the development rights for a prime sea-view land parcel off Carter Road in Mumbai’s western suburb Bandra west.

The company, focusing on Mumbai and Pune property market, is planning to invest around Rs 1,000 crore to develop a luxury housing project on this one-acre plot.

The land parcel comprises two bungalows, which the company acquired a few months ago and the other residents of the society have now been on-boarded to expand the development scope.


While the company has received the consent of the housing society and its residents, it will soon start working on approvals for the redevelopment. The construction of the project is expected to be started in the next two quarters and the project is estimated to be completed in 3.5 years after that.

“Finding a land parcel of this scale in Bandra west, particularly so close to the coastline, is increasingly rare. Our plan is to create a development that responds to what luxury homebuyers genuinely value today, space, privacy, openness and thoughtfully designed experiences,” Sunny Bijlani, Joint Managing Director, Supreme Universal, told ET.

According to him, the proposed development will have a private sea-facing terrace planned for every residence complemented by one of the largest terrace gardens overlooking the ocean.

Redevelopment has emerged as a mainstay of Mumbai’s residential development market, with developers increasingly turning to existing properties and land parcels in established neighbourhoods to build new housing. This has also made redevelopment and development rights transactions increasingly important for developers looking to expand their city portfolios.

Mumbai’s luxury residential market recorded 1,499 property registrations worth Rs 14,903 crore in the June quarter, translating into an average of about 16 homes priced at Rs 5 crore or more being registered every day, according to a recent Lighthouse Luxury study.

Among key locations, Bandra west continues to be a prime micro-market for ultra-luxury housing, with high-value transactions contributing to the premium end of Mumbai’s residential market.

The segment also continues to see individual transactions at significantly higher values, reflecting the depth of demand for scarce, well-located homes in the neighbourhood.