Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure arm of the Mahindra Group, will redevelop a 1.53-acre housing society in Matunga, Mumbai, with an estimated revenue potential of ₹1,010 crore, further strengthening its presence in the city’s micro market.
In a regulatory filing on December 3, the company said it has been chosen as the preferred partner for the residential redevelopment project.
This upcoming development will transform the existing housing cluster into a modern community featuring improved infrastructure, contemporary design, and enhanced lifestyle amenities, the company said.
Commenting on the new mandate, Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers Ltd., said: “This mandate is a strong endorsement of the trust communities place in Mahindra Lifespaces to deliver redevelopment that genuinely uplifts neighbourhoods. Matunga is a well- established and highly valued neighbourhood, and this redevelopment allows us to contribute thoughtfully to its next chapter with homes designed for modern lifestyles. We look forward to setting a new benchmark for community-centric redevelopment in Mumbai.”
The company’s development footprint spans 53.30 million sq. ft. (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development/ management at its integrated developments/ industrial clusters across four locations.