Wadia Group's Bombay Realty Set to Re-Emerge with Luxury Project in Dadar
Bengaluru: Wadia Group's Bombay Realty is gearing up for a significant return to the real estate market with a mega luxury project in Mumbai's Dadar. The project, named Three ICC, will feature around 500 units across three wings, targeting high-net-worth individuals.
Real EstateLuxury ProjectsBombay RealtyWadia GroupDadarReal EstateOct 19, 2025
Over the past few months, the company has assembled a fresh team and recently appointed a new chief executive to head the real estate business. The developer is planning to launch a premium residential project named Three ICC at the Island City Center (ICC), a gated community in central Mumbai's Dadar locality this year.
The project will have around 500 units across three wings, developed over 4.5 acres of the overall 17-acre land parcel. The first wing will feature large residences with private sundecks, priced between ₹15-30 crore. The project follows One ICC and Two ICC, two residential towers at Island City Center, which have already been delivered.
The Wadia Group, known for its diversified interests, formally launched Bombay Realty in 2011 with its flagship Island City Center project. However, the company pursued it in a staggered, uneven manner. Over the past 2-3 years, the company has been planning to revive its focus on real estate, take up new projects, and monetize its land holdings. But it is only this year that it started acting on it.
The renewed focus on rebuilding the business is being led by Jeh Wadia, the younger son of Nusli Wadia, chairman of Bombay Dyeing. “Real estate has emerged as one of the most promising growth sectors in India, and we believe the timing is ideal to strengthen our presence. For the group, real estate represents both a high-potential growth engine and a strategic diversification opportunity. Over the last few years, the residential segment—especially the premium and luxury categories—has seen a sharp rise in demand, backed by improved infrastructure, enhanced connectivity, and a shift in consumer aspirations post-pandemic,” Rohit Santhosh, chief executive officer, Bombay Realty, said in an interview with Mint. Santhosh joined the company in mid-September.
Besides the launch of Three ICC, the company is also planning future developments. It aims to unlock its existing land parcels, both in Mumbai and beyond, for projects. It is evaluating opportunities across residential, commercial, and mixed-use formats, aspiring to establish a strong pan-India footprint over time. The Dadar land itself has potential for more projects, after the soon-to-be-launched Three ICC.
“Real estate has a unique advantage: large, self-owned land parcels in prime locations across Mumbai. This allows us to develop projects without the cost pressures faced by developers who have to acquire land at current high valuations. Combined with the Wadia Group’s strong balance sheet and legacy of trust and quality, we are entering this phase with a position of strength,” Santhosh added.
Property analysts believe that though the real estate sector is quite crowded and competitive, corporate developers enjoy the distinct advantage of their brand value. “This is a good time to be in real estate. Developers backed by conglomerates or corporate groups are doing very well as home buyers display a clear preference for branded developers,” said Anuj Puri, founder, Anarock Property Consultants.
Bombay Dyeing's brand and reputation, along with its retail customer reach, will significantly benefit its real estate business, Puri added. In 2024, Bombay Dyeing concluded a two-phase deal with a unit of Japan's Sumitomo Corp., selling 22 acres of prime land in Mumbai's upmarket Worli locality for ₹5,200 crore, in possibly the largest land transaction in the country.
The company had stated in 2023, when the deal was first announced, that the sale would help it pare debt and strengthen the balance sheet. For now, Bombay Realty is focusing on its first launch after a long real estate sabbatical. Mohit Ramsinghani, head of sales, marketing, and customer relations, Bombay Realty, said that inquiries about the project have been encouraging, and given the appetite for luxury projects, they are expecting a good response from home buyers.
Frequently Asked Questions
What is the name of the new project being launched by Bombay Realty in Dadar?
The new project being launched by Bombay Realty in Dadar is named Three ICC.
How many units will the Three ICC project have?
The Three ICC project will have around 500 units across three wings.
What is the price range for the residences in the first wing of Three ICC?
The residences in the first wing of Three ICC will be priced between ₹15-30 crore.
Who is leading the renewed focus on real estate for the Wadia Group?
The renewed focus on real estate for the Wadia Group is being led by Jeh Wadia, the younger son of Nusli Wadia, chairman of Bombay Dyeing.
What is the advantage of Bombay Realty in the real estate market?
Bombay Realty has a unique advantage with large, self-owned land parcels in prime locations across Mumbai, allowing them to develop projects without the cost pressures faced by developers who have to acquire land at current high valuations.
Related News Articles
Large Cap Mutual Funds: Understanding Performance and Strategy
Large-cap mutual funds are considered more secure, but Mirae Asset Large Cap has underperformed due to its disciplined investment strategy, focusing on strong growth sectors like infrastructure and real estate.
Market Rally Analysis: Manish Chokhani's Insights on India's Growth Potential
Manish Chokhani, Director of Enam Securities, shares his views on the current market rally and potential red flags at the India Today Conclave 2024.
MahaRERA Orders Tata Housing to Refund Buyer After Deducting 2% of Total Cost
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Tata Housing Development Company Ltd to refund the money paid by a homebuyer after deducting 2% of the total consideration. This decision comes after the builder failed to execute th
Understanding Property Registration and Charges in Mumbai
In Mumbai, the real estate market has seen significant growth, particularly during the festive season. The city's property registration process and associated charges, including stamp duty, play a crucial role in this trend. This guide provides a detailed
551 Candidates File Nominations for 21 Assembly Seats in Pune District
A total of 551 candidates have submitted their nominations for the 21 Assembly seats in Pune district. The highest number of candidates is from the Pimpri constituency, with 39 nominations, while the Junnar constituency has the lowest with 17 nominations.
AP CM N Chandrababu Naidu Pledges Full Support to Real Estate Sector
Andhra Pradesh Chief Minister N Chandrababu Naidu has assured full support to the real estate sector, predicting significant growth in the coming years. He emphasized the importance of proper permissions and sustainable development.