Mumbais Worli emerges as Indias unrivalled ultra-luxury real estate hub, matching Manhattan prices: Report

Mumbai: Worli, once a largely industrial zone, has undergone a stunning transformation to become India's undisputed capital of ultra-luxury residential real estate. A new report by Anarock and 360 One Wealth reveals that this central Mumbai micro-market has commanded a staggering Rs 5,500 crore in ultra-luxury home sales (priced over Rs 40 crore) over the past two years, with two colossal duplex deals alone projected to exceed Rs 700 crore in 2025.

This remarkable surge places Worli at the forefront of India's high-end property landscape, now accounting for a dominant 40 per cent of all ultra-luxury apartment sales nationwide.

"That singular statistic captures the micro-market's unprecedented dominance," states Anuj Puri, Chairperson of Anarock Group. "Across the entire country — from Bangalore's sprawling tech corridors to Delhi's power pockets — Worli accounts for nearly half of all transactions exceeding Rs 40 crore."

Sky-high valuations and global parity

Worli's exclusive appeal is reflected in its staggering property values. Over the last three years, the locality has witnessed more than 20 individual deals surpassing the Rs 100 crore mark. Premium towers in Worli now command prices ranging from Rs 65,000 to an astounding Rs 1,00,000 per square foot, a valuation that puts it in direct competition with prime global real estate markets like New York’s Lower Manhattan.

For discerning buyers, Worli’s price-to-size breakdown highlights the exclusivity. The apartments priced above Rs 32 crore typically offer expansive ultra-premium residences spanning more than 4,000 square feet. This trend, according to the report, isn't just about real estate appreciation but signifies a pronounced geographic concentration of wealth.

A future built on billions

The momentum in Worli is far from slowing. Since 2023, land transactions totalling an enormous Rs 7,600 crore have been finalised in and around the area, promising a revenue potential exceeding Rs 36,000 crore for future developments. The residential segment alone boasts projects worth an estimated Rs 19,000-21,000 crore currently under construction, with at least 40 acres of new projects by India’s most reputed developers in the pipeline.

Major listed players with a significant footprint in Worli include industry titans like Lodha Developers, Birla Estates, Prestige Estates Projects, and Oberoi Realty. Recent landmark land deals underscore this investment frenzy:

The Bombay Dyeing–Sumitomo Realty (Goisu Realty) transaction at Rs 5,200 crore.

The Nusli Wadia–Century Textiles (Birla Estates) deal at Rs 1,100 crore.

The Kansai Nerolac Paints–Runwal Realty transaction valued at Rs 726 crore.

From industrial hub to integrated lifestyle & business district

Worli's ascent is not merely a residential phenomenon; it's the culmination of two decades of strategic development that has transformed it into a sophisticated, curated lifestyle ecosystem. Currently, nearly 4-5 million square feet of premium residential and retail space is under construction, reshaping the locality's urban fabric.

The commercial market also thrives, with office spaces commanding monthly rents between Rs 180-375 per square foot and an exceptionally low vacancy rate of just 8.1 per cent. This "scarcity pricing" signals a critical shift: institutional capital views Worli not just as a residential luxury play, but as Mumbai's emerging central business district.

Underpinning this meteoric rise is an extensive network of infrastructure projects, completed or ongoing, valued at over Rs 69,000 crore. Key developments like the iconic Bandra–Worli Sea Link and the partially operational Mumbai Coastal Road have fundamentally reshaped Mumbai's geography, establishing new economic corridors that further solidify Worli’s premier position in the city and across the nation.