Runwal Takes Marine Lines & Bandra: A ₹5,000 Cr Mega-Deal

Runwal Enterprises has secured redevelopment rights for two prime land parcels in south Mumbai’s Marine Lines and Bandra, with a combined gross development value (GDV) exceeding ₹5,000 crore.

Both projects will be undertaken under the cluster redevelopment framework as per Regulation 33(9) of the Development Control and Promotion Regulations (DCPR), a state government initiative aimed at accelerating urban renewal and infrastructure development. The developer plans to invest around ₹2,500 crore across the two projects, involving more than 600 housing society members, and is currently in the process of obtaining the required government approvals.

The Marine Lines project, located near Saifee Hospital and offering sea views, has a development potential of approximately five lakh sq ft. The Bandra redevelopment, spread over 2.5 acres, is expected to generate substantial revenues through its free-sale component. Construction on both projects is slated to commence in the next financial year.

Commenting on the development, Subodh Runwal, Director of Runwal Enterprises, said the agreements cover the redevelopment of two private housing societies, including the revival of the Marine Lines project, which had remained stalled for over a decade.

News by Rahul Yelligetti.