New Delhi, Sept. 25 -- Adani Properties Ltd, which sells homes under the Adani Realty brand, plans to launch premium and luxury projects in Mumbai this year, as the city emerges as a key market for the developer, according to two people familiar with the matter.

The developer plans to launch the first 5-6 acres of a cluster redevelopment project in Goregaon (West), with 1,300-1,400 homes. Most will be two- and three-bedroom apartments priced at Rs.34,000-35,000 per sq. ft.

It is also preparing to launch its much-awaited ultra-luxury project at Bandra Reclamation, which will be sold by invitation only. The first phase will have around 140 homes of about 5,000 sq. ft each, spread across five acres, and priced at around Rs.120,000 per sq. ...