Shapoorji Pallonji launches The Odyssey ultra-luxury project in Mumbai
Shapoorji Pallonji Returns to South Mumbai with Ultra-Luxury Residential Tower
Shapoorji Pallonji Real Estate (SPRE) has unveiled its uber-luxury project, The Odyssey, situated off Marine Drive. This venture marks the company's return to South Mumbai. Announced on January 24, 2024, the project represents a significant addition to the Marine Drive ultra-luxury residential market, a locality that has seen sustained demand from high-net-worth individuals.
Location and Connectivity
Located off Marine Drive close to Girgaon Chowpatty, The Odyssey epitomises contemporary luxury and provides seamless connectivity to the business hubs of South Mumbai and BKC through the upcoming coastal road. The property is conveniently close to educational institutions like Bombay International School, healthcare facilities such as H. N. Reliance Hospital, and iconic locations including Girgaon Chowpatty and Marine Drive. Within a 20-minute radius are Bombay International School, HN Reliance Hospital, The Royal Opera House, Wilson College, Heera Panna Shopping Centre, and Atria The Millennium Mall.
The Grant Road metro station is within 5 minutes of reach. Additionally, the Eastern Express Highway and the Eastern Freeway are just a 15-20 minute drive away, providing excellent connectivity to Central Mumbai and Thane.
Design and Architecture
Designed by Architect Hafeez Contractor, the project offers views of Marine Drive and the Arabian Sea. The Odyssey, a 63 storey tall forthcoming masterpiece by Shapoorji Pallonji that is set to grace the iconic skyline of Marine Drive, Mumbai. Hafeez Contractor is considered among the country's most prolific high rise architects and has designed many skyscrapers in India, primarily in the city of Mumbai. His most famous project is Hiranandani Gardens, a township in Powai, a suburb of Mumbai. In 2005, Contractor designed the twin-tower residential skyscraper, The Imperial, whose 254-metre-tall Tower I became the tallest residential buildings in India upon completion in 2010.
Scale and Configuration
The project comprises close to 60 apartments for sale, with revenues exceeding Rs 1000 crores. The 3 BHK apartments with spacious balconies start from Rs 15 crore. Featuring 3 BHK and 4 BHK ultra-luxurious residences, it is more than just a glamorous address; it embodies the charm of South Mumbai.
Amenities and Interior Design
Its grand double-height lobby, 20 parking floors, and habitable floors starting from 70 meters elevate the living experience. Every residence is column-free with high-class finishes and imported marble. Discover the awe-inspiring beauty of Mumbai's Queen's Necklace with 7 ft wide Diamond Head Floating Decks. Each deck is a stage for captivating views that change with the rhythms of the sea.
It also hosts curated indulgences like a clubhouse, swimming pool, banquet hall, gymnasium, automated car park, toddler's play area, and more.
Developer Background
Shapoorji Pallonji & Company Pvt. Ltd., the flagship company of the Shapoorji Pallonji Group, has been in the construction industry since 1865 and has completed 150 years in 2015. The company has a diverse project portfolio comprising of residential and commercial complexes, infrastructure, townships, and more. The portfolio comprises land parcels spread over 2,000 acres, with the value of the land estimated to be around $6 billion. The holding company covers 45 land parcels and projects, with a total development potential of 140 million square feet. Projects totalling 22 million square feet are currently under development. The assets are primarily in five major cities – Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.
Shapoorji Pallonji has developed grand real estate properties in India since the 1970s. The firm is known for its iconic landmarks, such as the Imperial, the tallest twin towers in Mumbai.
Market Context
Marine Drive continues to reign as Mumbai's most desirable residential destination. With impressive 16% annual price growth, world-class amenities, and unbeatable location advantages, it offers the perfect blend of luxury living and smart investment. The ultra-luxury segment in South Mumbai has remained resilient, with projects such as One Marina and Prestige Ocean Towers commanding premium valuations for sea-facing residences in the locality.