Mumbai’s high-end residential sector, city-based real estate firm Ashwin Sheth Group has acquired a 50 per cent stake in the prestigious One Marina luxury housing project at Marine Lines. The transaction, announced on 11 June, is valued as part of a Rs 23 billion (USD 275 million) project and marks the developer’s latest foray into the ultra-luxury segment of South Mumbai’s property market.
The stake was previously held by the promoters of Sheth Creators—who co-developed the project along with landowner YM Infra. With the Ashwin Sheth Group’s entry, One Marina is poised for an accelerated push toward completion, backed by fresh capital and renewed market confidence. The deal has also received significant support from global alternative investment firm PAG, which has committed an investment of USD 65 million (over Rs 5.4 billion) to facilitate the acquisition and future development stages.
Located along Marine Lines, One Marina occupies a rare parcel of land with sea-facing views and excellent proximity to the central business district, heritage institutions, and premium lifestyle offerings. The project has been envisioned as a limited-edition luxury residential complex catering to the city’s affluent segment, with a strong emphasis on eco-conscious living, green building features, and smart infrastructure—key trends that have come to define next-generation housing in Indian metros.
Real estate analysts view this development as a notable indicator of how Mumbai’s luxury housing landscape is evolving. The city, which has historically struggled with land scarcity and regulatory hurdles in the southern zones, is witnessing a steady rise in high-value deals. By taking over stalled or under-progress projects in prime locations, seasoned developers are now repositioning them to meet the demands of a more discerning, climate-conscious, and urban lifestyle-oriented clientele.
Ashwin Sheth Group’s strategic acquisition is also part of a broader market shift in which trusted legacy players are consolidating marquee properties through partnerships and equity participation. This approach not only enhances brand value but also allows for greater capital efficiency and faster time-to-market in an environment where construction cost inflation and policy compliance continue to add pressure to the bottom line.
For investors, the return of active development at One Marina signals both stability and upside potential in South Mumbai’s micro-markets. Industry observers suggest that luxury properties priced above Rs 10 crore are seeing consistent traction from high-net-worth individuals (HNIs), overseas buyers, and upwardly mobile professionals seeking residences in legacy neighbourhoods. As lifestyle aspirations grow in parallel with environmental concerns, demand for premium, sustainable homes is no longer a niche trend—it’s fast becoming the norm.
While the revised construction timeline for One Marina is yet to be disclosed, the entry of Ashwin Sheth Group is expected to reinvigorate the project’s momentum. As the market anticipates further updates on design finalisation and phased launches, this acquisition sets the tone for more such asset turnarounds in Mumbai’s core urban zones.
The deal also reiterates how real estate capital is increasingly flowing toward well-located, high-value developments that offer a blend of legacy and modernity. For Mumbai, a city constantly reinventing itself amid spatial constraints, One Marina’s revival could well symbolise a new chapter in luxury housing that aligns with the principles of urban sustainability, equity, and innovation.
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