How the Bandra-Versova Sea Link is Boosting Mumbai's Real Estate Market

Although the Bandra–Versova Sea Link (BVSL) is nearly two years from completion, Mumbai’s real estate market is already seeing heightened activity along the corridor. Localities such as Bandra, Juhu, Versova, and Madh Island are witnessing a surge in new project launches, as well as the redevelopment of older buildings, driven by the under-construction infrastructure that forms part of the Mumbai Coastal Road Project (MCRP).

According to a Hindustan Times report, construction of the Versova–Bandra Sea Link (VBSL), part of Phase II of the Mumbai Coastal Road, has reached its farthest point from the shoreline, about 900 metres into the Arabian Sea between Bandra and Juhu. The proposed Mumbai Coastal Road (North) will span nearly 60 km, including interchanges and connecting roads. Once completed, it is expected to reduce travel time between Bandra and Versova to just 15–20 minutes. The project is slated for completion by December 2028.

The Mumbai Coastal Road Project aims to connect South Mumbai with the northern suburbs. The corridor begins at Nariman Point, where land has been reclaimed from the Arabian Sea up to Worli. From Worli, commuters can access the existing Worli–Bandra Sea Link, which will connect to the under-construction Bandra–Versova Sea Link. From Versova, the project will extend northwards through land acquisition up to Dahisar. Beyond Dahisar, a separate road is being developed to Bhayandar in Thane district, forming part of the Mumbai Metropolitan Region.

According to real estate experts, while the Nariman Point–to–Bandra connectivity spurred a boom in the luxury housing market across areas such as Nariman Point, Walkeshwar, Malabar Hill, Worli, and Bandra, the under-construction Bandra–Versova Sea Link is expected to extend this real estate momentum further into the western suburbs.

1) Bandra

According to local brokers, neighbourhoods such as Bandstand, Carter Road, and areas around the Otters Club in Bandra have witnessed strong traction over the past two years, largely driven by the upcoming sea link. “The Bandra–Versova Sea Link, along with the easing of Coastal Regulation Zone (CRZ) norms, has triggered redevelopment of several old buildings over the last two years. Many developers are offering 100–150% additional area to existing homeowners, anticipating premium valuations due to proximity to major infrastructure in the coming years,” said a Bandra-based developer who did not wish to be named.

The per-square-foot price of apartments around Bandra ranges from ₹50,000 to ₹1 lakh per square foot, depending on the building and amenities, local brokers said.

2) Juhu

According to real estate experts, the infrastructure push has prompted several independent homeowners to sell bungalows and villas to private developers for high-rise redevelopment. “In the recent past, at least two bungalows have come up for sale in and around Juhu. While height restrictions apply due to the area’s proximity to a defence installation, multiple redevelopment projects have become viable because of the ongoing infrastructure push, which is expected to significantly impact Juhu,” said Vishal Arora, a Juhu-based real estate consultant.

Arora noted that sea-facing apartments in Juhu have fetched prices of over ₹1 lakh per sq ft in the past year. “This price momentum is being driven by two key factors, redevelopment activity, and the broader infrastructure-led transformation of the area,” he said.

Local brokers estimate that the average price of apartments in Juhu currently ranges between ₹60,000 and ₹70,000 per square foot, with select sea-facing properties commanding premiums of over ₹1 lakh per square foot.

3) Versova

In Versova, the story is not much different when it comes to the impact of the Bandra-Versova Sea Link. According to experts, the proposed connector for Sea Link at Versova has led to a push for the redevelopment of old buildings. “Several old buildings have undergone redevelopment due to the infrastructure push, and over the past two years, listed real estate developers have competed aggressively for redevelopment tenders. While Versova already has Metro connectivity, the upcoming road infrastructure is expected to decongest the Western Express Highway, significantly reducing travel time. This has generated strong interest among developers looking to launch projects in this densely populated micro-market,” said Manhendra Varma, a real estate consultant from the area.

The per-square-foot price of apartments in and around Versova ranges between ₹35,000 and ₹45,000 per square foot.

4) Madh Island

According to real estate experts, Madh Island is expected to emerge as a key beneficiary of the Bandra–Versova Sea Link. Once the sea link is completed, a proposed bridge connecting Versova to Madh Island, eventually planned as part of the Coastal Road, will further enhance connectivity. Experts say this will also benefit parts of Malad and Madh Island, improving access and boosting real estate prospects.

A local broker noted that Madh Island remains largely investment-driven, with several Bollywood celebrities owning apartments and villas in the area. “With the Bandra–Versova Sea Link and the proposed Versova–Madh Island motor bridge, investors are likely to see significant upside,” the broker said.

Madh Island is a locality in Malad neighbouring Versova in Mumbai. Bollywood actors like Kartik Aryan, Ronit Roy, Vivek Agnihotri, and Ayushmann Khurrana own properties in the Versova area of Andheri. Actor Sanjay Mishra and playback singer Jubin Nautiyal were in the news last year for purchasing an apartment in Madh Island. The per-square-foot price of an apartment in Madh Island ranges from ₹25,000 to ₹35,000 per square foot.