Phoenix Mills Rise 3, Wing B: Commercial Space Inside Lower Parel's Original Landmark Campus
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Phoenix Mills Rise 3 (Wing B) is a forthcoming commercial address within the Phoenix Mills campus in Lower Parel, Mumbai. It is being developed by Phoenix, the group behind The Phoenix Mills Limited, which commenced operations as a textile manufacturing company on 17.3 acres of land at Lower Parel and later entered the growing real estate market where High Street Phoenix emerged as one of Mumbai's most frequented destinations. Rise 3 (Wing B) extends that same compound into its next phase of development.
The wing is planned as part of a wider multi-building expansion. The overall development includes Rise 1 (Wing A), comprising a mall, offices, and residential spaces, alongside Rise 3 (Wing B), Wing C, and Rise 2, all designed as mall spaces, and Block 5, also planned as a mall. This scale of planning reflects how the group continues to build out its flagship Mumbai property rather than treating it as a finished asset.
Institutional capital has already been committed to this campus's expansion. The Phoenix Mills Limited and Canada Pension Plan Investment Board announced a joint venture to develop an office-led mixed-use asset in Lower Parel, forming part of a larger mixed-use development at Phoenix Palladium, with CPP Investments committing approximately INR 13.5 billion for an equity stake in the entity that owns the asset. That joint venture is developing office space with a potential leasable area of approximately one million square feet and flagship retail space of approximately 0.2 million square feet, with a target completion date of 2026.
The wider Phoenix Mills Lower Parel property continues to be scaled up in parallel. Phoenix Mills has outlined plans to add 400,000 square feet of retail space to its Lower Parel property over the coming years. For a wing positioned inside this campus, that ongoing expansion of retail and commercial floor area around it reinforces the address rather than competing with it.
Rise 3 (Wing B) is positioned for businesses and brands that want a presence inside one of Mumbai's original mixed-use redevelopment stories, in the heart of Lower Parel.
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Senapati Bapat Marg, Lower Parel, Mumbai 400013 · Lower Parel · Mumbai
Lower Parel occupies a central position in Mumbai's commercial geography. Lower Parel is a major commercial suburb of Mumbai, located 9.5 kilometres from downtown South Mumbai, centrally located between Naigaon, Chinchpakoli, Worli, and Sewri. The locality grew out of the city's old textile mill lands, and its skyline today mixes converted mill compounds with new-generation office towers, five-star hospitality, and retail. It remains one of the few Mumbai micro-markets where a single campus can combine a mall, a hotel, offices, and residences within one address.
Phoenix Mills Rise 3 (Wing B) sits within that campus. The project is located at the Lower Parel Division on Senapati Bapat Marg, Mumbai, as part of a multi-wing development where Rise 3 (Wing B), along with Wing C and Rise 2, is designed as mall space. Being positioned inside an operating, decades-old retail and commercial destination gives this address an established catchment rather than one that has to be built from scratch.
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The under-development Colaba-Bandra-SEEPZ metro corridor runs through the Lower Parel and Worli belt, aimed at easing access across central and south Mumbai for commercial catchments in the area.
The coastal road project along Worli and the western seafront is intended to cut travel time between south Mumbai and the western suburbs, benefiting businesses located in the Lower Parel corridor.
Planned elevated links between Worli and Sewri are aimed at improving east-west movement across central Mumbai, feeding traffic closer to the Lower Parel commercial belt.
The sea link connecting Mumbai to Navi Mumbai has widened the addressable commercial and logistics catchment for businesses operating out of central Mumbai locations such as Lower Parel.
Phoenix has outlined plans to add further retail floor area to its Lower Parel property, reinforcing footfall and commercial activity around the existing High Street Phoenix and Palladium complex.
Rise 3 (Wing B) is planned within the same compound as High Street Phoenix and Palladium, meaning any business here inherits an already-operating retail, hospitality, and office ecosystem rather than an untested location.
The wing is one of several planned buildings, Rise 1, Rise 2, Wing C, and Block 5, being developed together on the Phoenix Mills compound, reflecting a coordinated long-term master plan rather than a standalone structure.
Phoenix Mills has an existing joint venture with Canada Pension Plan Investment Board for an office-led mixed-use asset within this Lower Parel campus, indicating the scale of institutional interest in the location.
The campus sits centrally between Naigaon, Chinchpokli, Worli, and Sewri, placing it within reach of both south Mumbai's business districts and the western suburbs.
Phoenix Mills traces its origins to a textile mill established in 1905 on the same Lower Parel land, and has since built and operated malls, hotels, offices, and residences across multiple Indian cities.
The developer has announced plans to add further retail floor area to the Lower Parel property in the coming years, which is expected to sustain and grow footfall around Rise 3 (Wing B).
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