Once reminiscent of London’s Oxford Street and New York’s Fifth Avenue, this Mumbai stretch has now become a real-estate hotspot. Builders are eyeing entire societies and are willing to pay any price to acquire
whole colonies, driving rates up to Rs 1 lakh per square foot.
According to a Times of India report, builders are betting big on Mumbai’s Linking Road for three main reasons: its location in one of Mumbai’s most expensive areas, the high demand from major brands wanting a presence here, and retail shop rents exceeding Rs 800 per square foot.
Celebrities are also showing interest; in December 2024, actor John Abraham purchased a bungalow on Linking Road in Khar for Rs 75 crore, and actor Salman Khan owns a four-storey commercial building on Santacruz Linking Road, valued at around Rs 120 crore.
Builder’s Interest
Market sources indicate that for the past two years, major builders have been targeting properties on Linking Road between Khar, Santacruz, and Vile Parle. Builders are prepared to pay any price for the 4-kilometre stretch from Bandra to Santacruz.
One person was offered Rs 7.5 crore for a 135 square foot shop but refused to sell, citing profitable business conditions.
Builders Keen On Acquiring The Entire Society
On Linking Road, builders are now looking to purchase not just individual shops or flats, but entire societies. Vrindavan Society in Santacruz West is a recent example where Mohit Kamboj of Aspect Realty made an irresistible offer to all 14 flat owners, approximately Rs 12 crore per flat, or nearly Rs 85,000 per square foot, which is 40% higher than the current market rate.
Kamboj explained, “This is not redevelopment; it’s a direct buyout. After payment, we provided six months of free stay for residents to find new homes.”
Aspect Realty has bought or agreed to buy 156 flats in 14 societies on Linking Road, with a total value of about Rs 1,600 crore.
Kamboj said, “In partnership with JSW Realty, we are developing a mall, corporate space, and residential towers on more than 3 acres. This will be the largest cluster development project on Linking Road.”
Here, the builders’ aim isn’t just to demolish old structures and put up new ones, but to transform the entire area.
What’s Driving These Massive Deals?
The primary reason for such significant investments is the high Floor Space Index (FSI) for commercial projects, which can go up to 6.75.
Builders can construct up to 6,750 square feet from 1,000 square feet of land. Despite height restrictions near the airport, buildings of 17 to 18 floors can still be built.
Linking Road Set To Become Like Oxford Street
Renowned architect Reza Kabul states that the 4-kilometre stretch from Bandra to Santacruz has become India’s most attractive high street, with major international brands eager to open stores. This area is expected to soon rival London’s Oxford Street. Some developers have offered up to Rs 1 lakh per square foot. A 1,000 square foot flat owner is being compensated for 1,500 or 2,000 square feet.
Outside Builders Entering As Well
Now, developers from Raipur, Delhi, and Surat are also investing in Linking Road. Raipur’s Krishna United Developers have already acquired five societies (60-70 flats) here. Developer Sanjay Devnani remarked, “Big players like Aspect are buying entire blocks. Builders from outside Mumbai are also joining the race. Everyone wants a share in this ‘golden stretch’.”
High Demand And Rates
Devnani said, “Older flats on Linking Road are selling for up to Rs 1 lakh per square foot, while buildings on the nearby Green Lane aren’t finding buyers even at Rs 50,000 per square foot. Newly redeveloped buildings are selling for Rs 65,000 per square foot.” This shows how an area once considered undesirable has now turned into a high-value address.
ANAROCK Group chairman Anuj Puri highlights a significant shortage of land in Mumbai’s premium western suburbs, leading to more cluster development projects. These areas are already high-income zones where commercial real estate returns surpass residential property. Developers are employing aggressive strategies, offering prices well above current market value, confident in the area’s future commercial potential.
