Suraj One Business Bay Phase 2 in Mahim: Upcoming Commercial Extension

Launch status

Suraj One Business Bay Phase 2 is at the upcoming stage. The developer's August 2026 investor presentation lists it among its commercial projects, and management has said the Phase 2 portion would be launched in the third quarter of FY27, which runs from October to December 2026.

As of October 2026, Phase 2 has not been registered separately. Management has linked the Phase 2 revenue to completion of a RERA amendment, which suggests the added area would come in through a change to the existing registration.

Developer and land deal

Suraj Estate Developers Limited is a Mumbai developer focused on South Central Mumbai, with a specialisation in redevelopment projects. The company announced a memorandum of understanding to acquire development rights for a 2,941 square metre plot in Mahim (West) for ₹75 crore. The buyer is its wholly owned subsidiary, Iconic Property Developers Private Limited, and the plot sits next to the company's ongoing commercial project.

The total acquisition cost for the adjoining parcel is stated as ₹82.72 crore in company disclosures. The expected GDV from the new plot is about ₹800 crore, which lifts the overall project GDV to more than ₹2,000 crore.

Scale and relationship to Phase 1

Phase 1, Suraj One Business Bay, sits on a land parcel of about 3,000 square metres with a saleable area of 2.09 lakh sq ft and an estimated GDV of about ₹1,200 crore. The company has said that about 33% of Phase 1 inventory was sold after launch, as of its Q1 FY27 results.

After amalgamation, the combined parcel is expected to cover about 5,941 square metres, with saleable area of about 3.59 lakh sq ft. The developer describes Phase 2 as an extension of the existing tower, saying the added plot should improve shared-amenity and construction efficiency.

Phase 1 was launched in November 2025 as a commercial project with a stated carpet area of 2.09 lakh sq ft. Its design includes architecture by Hafeez Contractor, a façade by ELIA of Barcelona, and a target of Gold LEED certification, according to the project's published details.

Location and connectivity

The site is on Senapati Bapat Marg, close to Mahim Junction, which is about 230 metres from the Phase 1 site. The Sitladevi Metro station on the Aqua Line (Line 3) is about 800 metres away. Mumbai Metro Line 3 has been fully operational since 9 October 2025, with all 27 stations open.

• Mahim Railway Station, on the Western and Harbour lines, is about 2 minutes' walk from the Phase 1 listing.
• Western Express Highway is about 6 minutes' drive, and Bandra Worli Sea Link is about 6 minutes' drive.
• Eastern Express Highway is about 25 minutes' drive.
• Chhatrapati Shivaji Maharaj International Airport is about 25 minutes' drive, or about 12 km.
• Bandra is about 3 km away, Lower Parel about 5.3 km and BKC about 5.5 km.

The developer cites Tulsi Pipe Road as a connecting road to Dadar, Prabhadevi, Lower Parel and BKC.

Infrastructure in progress

Several road projects in the area are still under way. The BKC–Senapati Bapat Marg connector is planned to give direct access to the Western Express Highway and the airports. An elevated link between the Senapati Bapat Marg and the Western Express Highway is also listed as upcoming.

Phase 1 of the Coastal Road, from Marine Lines to Worli, opened on 11 March 2024. Phase 2 of the Coastal Road, which extends from Bandra to Dahisar, remains under construction. In June 2026 the Chief Minister said the northern section was targeted for completion by December 2028.

Nearby civic and office context

Within a few minutes' reach of the site are SL Raheja Hospital, about 3 to 5 minutes away, and P. D. Hinduja Hospital, on Veer Savarkar Marg near Shivaji Park. Schools in the wider area include Bombay Scottish School, D Y Patil International School, Aditya Birla World Academy, Podar International School and RIMS International School.

The Lower Parel commercial precinct is about 5.3 km away, roughly 13 minutes by road. The developer has also built offices nearby at Saraswat Bank Bhavan in Prabhadevi and CCIL Headquarters in Dadar.

Demand signals

The company reported Q1 FY27 sales value of ₹141 crore, up 74% year on year, with commercial sales value more than doubling to ₹141 crore from ₹59 crore in the same quarter a year earlier. Management attributed the commercial momentum largely to Suraj One Business Bay, where about 33% of inventory had been sold since launch.

Management has also set a FY27 launch pipeline of about ₹1,600 crore, which includes Phase 2.