Once known for industrial prowess, Worli in Mumbai has evolved into an ultra luxurious enclave that attracts ultra high net worth individuals, multinational corporations, and serious investors. This transition is fueled by effortless connectivity, high-end infrastructure redevelopment and transformational infrastructure projects, according to a report by property consulting firm Anarock.
From mills to millionaire’s row
In the past, Worli had a string of textile mills and a residential settlement for the working-class. This changed in the 1990s and 2000s when the mills closed and gave way to high rise towers and commercial real estate. But the single most important reason? The Bandra-Worli Sea Link. All of a sudden, the area was only a few minutes from the western suburbs. This turned the area into prime real estate virtually overnight.
“Originally an industrial stronghold, Worli housed numerous textile mills and working-class chawls. However, the closure of these mills in the 1990s and 2000s spurred large-scale redevelopment, paving the way for premium residential towers and commercial spaces. The construction of the Bandra-Worli Sea Link further solidified its reputation as a premier address, making the area attractive to corporate professionals and wealthy homebuyers, ”said Anuj Puri Chairman of Anarock Group.
Why everyone wants a piece of Worli?
While choosing to invest in real estate, people always look out for location, and with that, Worli being right at the center of Mumbai’s business ecosystem gives it an advantage. It offers easy access to Bandra-Kurla Complex (BKC), Lower Parel, and Nariman Point, making it the go-to choice for corporate honchos and investors.
Major infrastructure projects boosting its appeal include:
– Bandra-Worli Sea Link – Cuts travel time to western suburbs.
– Mumbai Coastal Road – Strengthens north-south connectivity.
– Metro Line-3 (Colaba-Bandra-SEEPZ) – Expands public transport options.
– Eastern & Western Express Highways – Connects the area to the rest of Mumbai.
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Luxury housing market on rise
The luxury real estate segment in Worli is booming, with high-end projects setting new benchmarks. Some key market indicators:
– Total supply (till 2024): 4,600 units
– Average price per sq. ft.: Rs 75,000
– Dominant price range: Rs 6 crore – Rs 12 crore (52 per cent of inventory)
– Price appreciation (2022-2024): 30 per cent
– Ultra-luxury transactions (2023-24): 30 deals above Rs 40 crore, worth Rs 4,862 crore
Future growth and investment potential
Worli is poised for sustained growth, driven by several factors, as major infrastructure projects reach completion. Existing infrastructure projects like the Coastal Road and Metro Line-3 will improve accessibility to the region and make it more attractive. Luxury redevelopment is also transforming the skyline, as older buildings make room for sleek, ultra-modern high-rises. Moreover, corporate growth is driving the need for high-end office spaces, adding to the city’s attraction. Worli continues its upward trajectory, driven by strong investor confidence and high property appreciation, maintaining its status as one of the finest real estate destinations with high returns in the long term.
