PHOENIX MILLS BLOCK 5 — New Project Coming Up in Lower Parel, Mumbai

Phoenix Mills Block 5 Brings Retail-Focused Development to Lower Parel

Block 5, designed as a mall, forms part of a larger mixed-use development that includes Rise 1 (Wing A) comprising mall, offices, and residential spaces; Rise 3 (Wing B), Wing C, and Rise 2, all designed as mall spaces. The project is located in Lower Parel Division, Senapati Bapat Marg, Lower Parel, Mumbai 400013.

Strategic Location in Mumbai's Transformed Urban Hub

Phoenix Mills Compound is situated in a wonderful neighborhood of Lower Parel, with the area being an ideal place to shift in Mumbai because of its excellent connectivity and vicinity. Lower Parel is a residential-cum-commercial hub in South Mumbai, home to Phoenix Palladium—a renowned shopping mall in India—and is well-connected via Bandra Worli Sea Link and Eastern Express Highway, with Senapati Bapat Marg and NM Joshi Marg also connecting it, and a dedicated station on the Western Line offering a good rail network.

Recent market assessments indicate that average Lower Parel property prices have risen to ₹45,657 per sq ft in 2025. The evolution began when former mill land parcels were redeveloped into modern residential and commercial zones, creating a new demand base for flats in Lower Parel. What once held low-rise industrial units gradually transformed into high-end towers, Grade A offices, malls, and entertainment hubs, reshaping the skyline and strengthening the appeal of Lower Parel residential projects, firmly establishing it as one of Mumbai's most contemporary urban hubs.

Anchored in a Heritage of Mixed-Use Development

The Phoenix Mills Limited (including its subsidiaries) is India's leading owner, operator and developer of retail-led mixed-use destinations. The Group has carved a niche for itself in the Indian real estate sector, through its retail-led mixed-use developments, comprising retail malls, commercial offices and hospitality assets. The Group also builds residential assets. Its operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance and sales.

Phoenix Mills Limited started its retail journey in the 1990s through High Speed Phoenix at Lower Parel, Mumbai, and is today the largest mall developer in the country, synonymous with quality and innovation in the retail realty space. 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, Mumbai. The asset forms part of a larger mixed-use development at Phoenix Palladium, Mumbai.

Connectivity and Neighbourhood Infrastructure

The area has nearby big hospitals like KEM hospital, TATA, and GLOBAL hospital, and also has schools and colleges. Many companies and industries are also there which provide employment opportunities and maintain the standard of living of the residents. The metro station is 10 minutes away.