Paradigm Realty Acquires Florencia in Bandra, Expanding Ultra-Luxury Portfolio
Mumbai, September 18, 2026: Paradigm Realty has acquired Florencia, a 30-year-old residential building at the foothills of Pali Hill in Bandra, marking its third project in the neighborhood under the Paradigm Marquis Collection. Spread across approximately 1,300 square meters, the re-development project carries an estimated gross development value of Rs 350 crore, supported by an investment of approximately Rs 80 crore. The acquisition expands the company’s Bandra portfolio alongside Paradigm Superstar and Paradigm Green Acrres, bringing its total development value in the micro-market to approximately Rs 1,200 crore, Paradigm Realty said in a press release.
Existing plans for the site envisage a 70-meter structure comprising two basement levels, a ground level, five podium levels, and 15 residential floors with fewer than 30 residences. The development will feature 15 to 20 sale apartments with 3 BHK and larger configurations, alongside 11 rehabilitation units of around 1,800 square feet each. Paradigm Realty was unanimously appointed by all 10 member families owning the original 19 units, with 100 percent consent recorded before the Sub-Registrar and execution formalities for the development agreement currently underway.
Parthh K Mehta, CMD and Founder, Paradigm Realty, outlined the strategic focus behind the acquisition. “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,” Parthh K Mehta said.
Project launch is scheduled within the current calendar year, with construction commencement expected in FY 2026-27 and completion targeted within 36 months of start. The acquisition fits into the company’s strategy to expand its footprint across established residential corridors in Mumbai’s western suburbs.
