Daijiworld Media Network - Mumbai
Mumbai, Jan 7: Even as the Bandra–Versova Sea Link (BVSL) remains nearly two years away from completion, Mumbai’s real estate market is already witnessing heightened activity along the proposed corridor. Areas such as Bandra, Juhu, Versova and Madh Island are seeing a surge in new project launches and redevelopment of ageing structures, driven by the ongoing infrastructure works under the Mumbai Coastal Road Project (MCRP).
As per reports, construction of the Versova–Bandra Sea Link (VBSL), part of Phase II of the Mumbai Coastal Road, has progressed nearly 900 metres into the Arabian Sea between Bandra and Juhu, marking the farthest offshore stretch so far. The larger Mumbai Coastal Road (North) project will extend nearly 60 km, including interchanges and link roads, and is expected to cut travel time between Bandra and Versova to just 15–20 minutes once completed by December 2028.
The coastal road aims to seamlessly connect South Mumbai with the northern suburbs, starting from Nariman Point, passing through reclaimed land till Worli, linking with the existing Worli–Bandra Sea Link, and further extending via the under-construction Bandra–Versova Sea Link. From Versova, the road will stretch northwards up to Dahisar, with a separate extension planned till Bhayandar in Thane district.
Real estate experts point out that while the Nariman Point–Bandra connectivity earlier fuelled luxury housing growth in areas such as Malabar Hill, Walkeshwar, Worli and Bandra, the upcoming Bandra–Versova Sea Link is expected to push this momentum deeper into the western suburbs.
In Bandra, neighbourhoods such as Bandstand, Carter Road and areas near Otters Club have recorded strong demand over the last two years. Developers attribute this to the sea link project and relaxation in Coastal Regulation Zone (CRZ) norms, which have encouraged redevelopment of old buildings. Brokers estimate property prices in Bandra range between ?50,000 and ?1 lakh per sq ft, depending on location and amenities.
Juhu has also witnessed increased redevelopment interest, with several bungalows reportedly being sold for high-rise projects. Despite height restrictions due to nearby defence installations, infrastructure-led transformation has boosted the area’s appeal. Sea-facing apartments in Juhu have fetched prices exceeding ?1 lakh per sq ft, while average rates range between ?60,000 and ?70,000 per sq ft.
Versova, already benefiting from Metro connectivity, is seeing renewed developer interest due to the proposed sea link connector. Experts say the upcoming road infrastructure will help decongest the Western Express Highway and significantly reduce commute times. Property prices in Versova currently range between ?35,000 and ?45,000 per sq ft.
Madh Island is emerging as another key beneficiary. With plans for a Versova–Madh Island motor bridge as part of the coastal road network, connectivity to Madh and parts of Malad is expected to improve substantially. Local brokers note that Madh Island remains largely investment-driven, with growing interest from high-net-worth individuals and film personalities, anticipating long-term appreciation once the sea link becomes operational.