Bandra’s Old Bungalows to Make Way for ₹1,500 Crore Luxury Project What Homebuyers Can Expect
Mumbai, August 25, 2026: Two early 20th-century bungalows in Bandra West near Carter Road are set to make way for a new luxury residential development, highlighting the rapid transformation of some of Mumbai’s most valuable residential neighbourhoods.
Mumbai-based developer Supreme Universal has secured development rights for an approximately 1-acre land parcel and plans to develop a luxury and ultra-luxury residential project with an estimated revenue potential of around ₹1,500 crore. The company plans to invest about ₹1,000 crore in the project.
Two Old Bandra Bungalows Will Be Redeveloped
The land parcel comprises two bungalows, Gladhurst and Kavas Lodge, which date back to the early 20th century. The properties are located on land belonging to the Wavelash and Sunbeam housing societies.
According to the developer, the society and residents have given consent for the redevelopment, while the approval process is expected to begin shortly.
The redevelopment is expected to bring a new high-rise residential project to one of Bandra West's most tightly held coastal locations.
₹1,500 Crore Revenue Potential From Just 1 Acre
The scale of the proposed project is significant considering the land parcel is approximately one acre.
Supreme Universal plans to invest around ₹1,000 crore, while the project has an estimated revenue potential of ₹1,500 crore.
The developer is planning luxury and ultra-luxury residences with a strong focus on open spaces, privacy and premium amenities.
Private Sea-Facing Terraces Planned for Every Home
One of the major features planned for the project is a private sea-facing terrace for every residence.
The development is also expected to include a large terrace garden overlooking the sea along with sporting, wellness, social, work and entertainment amenities.
According to the developer, the project is being designed around the growing demand for larger luxury homes in established Mumbai neighbourhoods where new land parcels are increasingly difficult to find.
Construction Could Start Within Two Quarters
According to media reports cited in the source, construction could begin within the next two quarters, subject to the required approvals.
The project is estimated to take around 3.5 years to complete once construction begins.
This means the timeline will depend not only on the developer's construction plans but also on statutory approvals and other redevelopment-related processes.
Why Bandra West Is Attracting Luxury Homebuyers
Bandra West, particularly areas around Carter Road, remains one of Mumbai's most sought-after residential markets.
Local brokers quoted in the source said apartment prices around Carter Road are above ₹1 lakh per sq ft.
The combination of limited land availability, proximity to the sea and established social infrastructure has made the area particularly attractive for high-end residential development.
Mumbai's Bungalow Market Is Changing Fast
The redevelopment of Gladhurst and Kavas Lodge is part of a broader trend in Mumbai, where old standalone bungalows in premium neighbourhoods are increasingly becoming redevelopment opportunities.
Several high-value bungalow transactions have taken place across Juhu, Bandra and South Mumbai, reflecting the premium attached to large land parcels in established locations.
For existing property owners, redevelopment can unlock significant value from ageing structures. For homebuyers, however, new luxury towers also mean evaluating factors such as project approvals, construction timeline, developer track record, amenities and final pricing before making a purchase decision.
What This Means for Mumbai Homebuyers
The Bandra project highlights a key trend in Mumbai real estate: land scarcity is pushing developers towards redevelopment and larger premium projects in established neighbourhoods.
For buyers looking at Bandra and nearby areas, the arrival of a new luxury project could increase the supply of premium residences, but the expected pricing will remain a major consideration given the location and development costs.
For existing residents and property owners, redevelopment can potentially increase the value of strategically located land, while also changing the character and skyline of established neighbourhoods.
Grihik Property Takeaway
For a homebuyer, the headline ₹1,500 crore project value is not the most important number. The real questions will be how much the apartments will cost, what carpet area buyers will get, when possession will happen and what approvals are in place.
With Mumbai's premium land becoming increasingly scarce, projects like this show why redevelopment is becoming one of the biggest drivers of new housing supply in established parts of the city.