Mahindra Lifespace Secures Major Redevelopment Project in Mumbai's Malad West
Mahindra Lifespace Developers Limited (MLDL), a leading real estate developer based in Mumbai, announced on October 10 that it has been selected as the preferred partner for the redevelopment of four residential societies in the Malad West area of Mumbai. The project is estimated to have a development potential of ₹800 crore.
According to the company, the four societies are spread across approximately 1.65 acres. This strategic location is near Mahindra Lifespaces’ ongoing redevelopment project, Mahindra Codename 64, further solidifying the company's presence in the micro-market.
Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers Ltd., stated, “This project further strengthens our presence in Mumbai’s redevelopment market, reflecting the trust our brand has earned over the years with customers and communities. Our reputation for delivering thoughtfully designed, high-quality homes has made us a preferred choice for societies looking to redevelop. This is also in line with our strategy of deepening presence in established micromarkets, enabling us to leverage economies of scale and enhance project efficiencies.”
The project is situated 2.6 km from the Western Express Highway (WEH), providing excellent connectivity to key areas of Mumbai via multiple transportation modes. It is conveniently located less than 1 km from Malad West Metro Station and around 1.5 km from Malad Railway Station.
The Knight Frank India report highlights the significant potential of the redevelopment market in Mumbai. It predicts that by 2030, as many as 44,277 apartments worth ₹1.30 lakh crore are expected to enter the real estate market through the redevelopment segment. The free-sale component from society redevelopments is projected to generate around ₹7,830 crore in stamp duty and ₹6,525 crore in Goods and Services Tax (GST).
The report also identifies Borivali, Andheri, and Bandra as the top three redevelopment hotspots, collectively contributing over 139 acres of activity. This trend underscores the growing interest and investment in Mumbai’s redevelopment projects, attracting developers from across the country.
Mahindra Lifespace’s successful bid for this project not only enhances its market position but also contributes to the urban renewal and modernization of Mumbai's residential landscape. The company’s commitment to delivering high-quality, sustainable housing solutions aligns with the growing demand for modern, well-connected living spaces in the city.
