Isolation, molecular characterization, and cultivation of indigenous microalgae species from fresh-water body of Mumbai region. Amit K. Jethwa1,2,a , Meena Patankar2,b* 1Department of Biotechnology, S K Somaiya College, Somaiya Vidyavihar University, Mumbai- 400077, Maharashtra, India 2Department of Botany, K. J. Somaiya College of Science and Commerce, Mumbai- 400077, Maharashtra, India aamit.jethwa@somaiya.edu, b*meena.p@somaiya.edu Abstract: Microalgae are photosynthetic organisms and are characterized by the production of significant amounts of biomass and number of value-added products (VAPs). Indigenous microalgae species should be ideal target for VAPs as it can be expected that indigenous organism have a competitive advantage under the local climatic conditions. In the present study, freshwater sample was obtained from Mumbai, Maharashtra, and microalgae was isolated using Bolds Basal media (BBM). Molecular identification of the isolate (partial sequencing of 18 S rRNA and ITS region) indicates the organism to be Coelastrella sp. Based on 18S rRNA gene, isolate most closely resembles Coelastrella vacuolata. Cultivation of C. vacuolata in BBM media at room temperature and illuminated with 3000 ± 500 lux, yielded around 1.25 g/litre of biomass with generation time around 3 days and specific growth rate 0.22 (per day). Preliminary analysis of the biomass for the total lipids shows the accumulation of around 25 g% of lipids. Analysis of alcholic extracts for mycosporine like amino acids (MAA) in the UV range of 200 nm to 400 nm indicated the presence of MAAs. The significant generation of biomass and accumulation of VAPs under control studies is indicative of its potential for further exploration. Keywords: Coelastrella sp, Indigenous, Value-added products (VAPs)