Paradigm Realty Acquires Florencia in Bandra, Expands Ultra-Luxury Marquis Collection

Paradigm Realty, one of Mumbai’s most trusted and fastest-growing luxury developers, has acquired Florencia, a 30-year-old residential building at the foothills of Pali Hill, Bandra. This acquisition marks its third project in the neighbourhood under the Paradigm Marquis Collection, the developer’s portfolio of ultra-luxury residences. The acquisition builds on the success of Paradigm Superstar and Paradigm Green Acrres and further strengthens the developer’s presence across the Bandra-Khar-Santacruz belt.

Spread across approximately 1,300 sq. m, Florencia has an estimated Gross Development Value (GDV) of approximately ₹350 crore, with an investment of approximately ₹80 crore. The acquisition adds further depth to Paradigm Realty’s presence in a market that has become an important focus within its broader strategy across the Worli-to-Juhu corridor. The developer’s growing Bandra portfolio follows the strong response to Paradigm Superstar and Paradigm Green Acrres. Superstar has established itself as a signature ultra-luxury address in Bandra, while Green Acrres at Pali Hill has extended the proposition with a highly exclusive, low-density format. Together, the developments have strengthened Paradigm Realty’s standing at the upper end of Mumbai’s residential market and provided the foundation for the next phase of its Bandra strategy.

“Bandra has been an important market for us, and the response to Superstar and Green Acrres has reinforced our belief in the opportunity here. The acquisition of Florencia allows us to build on that experience while further strengthening our presence in the neighbourhood. Each development has its own character, but the underlying focus remains on creating well-considered residences with an emphasis on space, privacy and design. We see considerable opportunity to continue building our presence across Bandra, Khar and Santacruz,” said Parthh K Mehta, CMD and Founder, Paradigm Realty.

Florencia will carry forward the standards and design philosophy of the Marquis Collection, while being shaped specifically around its Pali Hill setting. The proposed development is planned at an approximate height of 70 m, comprising two basement levels, a ground level, five podium levels and 15 residential floors. The completed project is expected to have fewer than 30 residences, maintaining an intimate, low-density character.

Current plans envisage approximately 15 to 20 sale residences, comprising 3 BHK and larger configurations, alongside approximately 11 rehabilitation residences of around 1,800 sq. ft. each. The layouts are currently at the design stage, with two apartments planned per residential floor. The planning approach places emphasis on generous spaces, open views, cross ventilation and enhanced privacy. Detailed amenities, specifications and the final architectural expression will be announced closer to launch.

The location is central to the project’s proposition. Set at the foothills of Pali Hill, Florencia will be situated within one of Mumbai’s most established residential neighbourhoods, with access to strong connectivity, social infrastructure and a distinctive lifestyle ecosystem encompassing independent cafés, restaurants, entertainment and some of the city’s most sought-after dining destinations.

The existing Florencia development comprises a single composite tower with 19 residential units owned by 10 families. Paradigm Realty has been unanimously appointed as the developer, with 100 per cent consent from members recorded before the Sub-Registrar. Formalities for execution of the Development Agreement are currently underway.

With Florencia, Paradigm Realty’s three Bandra developments—Florencia, Paradigm Superstar and Paradigm Green Acrres—represent a combined estimated development potential of approximately US $125 million. Florencia accounts for approximately ₹350 cr., while Paradigm Superstar and Paradigm Green Acrres have total estimated development value of ₹850 cr.

The acquisition forms part of Paradigm Realty’s broader strategy of building greater depth across established markets in Mumbai’s western suburbs. Bandra, Khar and Santacruz remain key focus areas, alongside the developer’s wider development activity across the Western and Central suburbs. Florencia’s launch is planned within the current year, with commencement expected in FY 2026-27 and completion targeted within approximately 36 months from commencement. With Superstar, Green Acrres and now Florencia, Paradigm Realty continues to build a concentrated portfolio in Bandra, extending the momentum of its Marquis Collection and reinforcing its growing presence in one of Mumbai’s most established residential corridors.