₹1,000 Crore Marine Lines Project to Redevelop 2-Acre Site

A two-acre land parcel near Marine Lines is set to become a major new redevelopment project in South Mumbai.

Dhuleva Group has secured development rights for the site and plans to develop a luxury residential project with an estimated gross development value of approximately ₹1,000 crore.

The site has approximately 1 million sq. ft. of development potential, including rehabilitation and free-sale components.

More than 270 existing residents will be accommodated within the rehabilitation component of the new development.

The developer has secured consent from the existing residents and is now working towards obtaining the government approvals required to proceed with construction.

Work is expected to commence in the first quarter of 2027, subject to approvals, with development expected to take approximately four years after construction begins.

The project will be undertaken under Regulation 33(9) of Mumbai's DCPR 2034.

The regulation facilitates cluster redevelopment, under which multiple ageing or unsafe buildings can be brought together for comprehensive redevelopment.

This approach has become increasingly relevant across South Mumbai because much of the area's housing stock is located in older buildings, while opportunities for new construction on vacant land remain limited.

Redevelopment therefore allows new residential inventory to enter established neighbourhoods while providing replacement homes to existing occupants.

Sandeep Sadh’s Take:

“Marine Lines is an established South Mumbai residential location where fresh land supply is extremely constrained. Redevelopment of larger consolidated parcels can bring newer housing stock into the market while upgrading homes for existing residents.”