This article examines the issue of waterfront redevelopment, the impact of private investments on waterfront development, its economic factors like changes in the real estate market, social implications, consideration of environmental factors, Project designing and marketing techniques and role of political controversies and implementation problems, based upon the field surveys and review of the literature on waterfront redevelopment.

The fabric of Mumbai city is inextricably linked to the bodies of water that contributed to their founding and to their subsequent development. There is dramatic change in the waterfront development, since the waterfront was previously seen as an area that was strictly for industry, transportation, fishing and flood protection. Now leisure has becoming increasingly important and the process of de-industrialization is opening up vast territories. Secondly, urban waterfront transformations are enormous enterprises, sweeping in scale, and, taken collectively, represent a dramatic story of urban rebirth. The success of urban regeneration involves some degree of private initiative along with municipal or Development authorities, or other governmental intervention – an exercise of community will to make things better. What is important is that cities are doing what they have to, in order to remain competitive, and using vacant land near cleaned-up waterways is an obvious step.

Industry, transportation facilities and ports were moved away from central city locations in a trend that has been accelerating since decline of industrialization and induction of service sector industry. There is also related issue of gentrification. The reality of abandoned factories, godown, mills, dumping grounds, wastelands and many more vast stretches of decaying property constitutes Mumbai's waterfronts, which now demand new uses. Waterfront regeneration involves a variety of economic, social, environmental and preservation issues. The unifying element around the globe, is perhaps, to relate the recent urban waterfronts phenomenon and the public's desire to be near a body of water - a rather sharp contrast to the time when many waterfront areas were lined with heavy industry, docks and warehouses, marred with abandonment and dereliction. This transformation is typical of a waterfront city adjusting and adapting to the changing economic and cultural circumstances.