Mahindra Lifespaces Secures Rights to Redevelop Two Housing Societies in Mumbai’s Chembur
Mahindra Lifespace Developers Ltd (MLDL) has secured the rights to redevelop two large housing societies in Chembur, Mumbai, adding to its growing portfolio in the city. The projects, spread over 4.4 acres, have a combined gross development potential of around Rs 1,700 crore.
MumbaiReal EstateRedevelopmentChemburMahindra LifespacesReal Estate MumbaiSep 16, 2025
The two societies, located in Chembur’s Diamond Garden area, are spread over 2.6 acres and 1.8 acres, respectively. The projects hold a combined gross development potential of around Rs 1,700 crore, the company said in a release.
Redevelopment continues to play an important role in our growth journey. It enables us to bring high-quality residential projects to neighbourhoods where demand remains strong,” said Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers. The project adds to Mahindra Lifespaces’ Mumbai portfolio, where the company is also executing redevelopment and greenfield projects.
This follows a series of similar society-led redevelopment contracts awarded in the Mumbai Metropolitan Region (MMR), where developers are increasingly looking at infill sites to expand within city limits. Real estate projects involving the redevelopment of old housing societies and rehabilitation are the mainstay of the Mumbai region’s property market, as the land-starved city and its peripheral areas have few vacant land parcels.
The redevelopment sector in Mumbai has seen increased activity, especially in eastern and western suburbs, due to constrained land availability and regulatory focus on replacing ageing building stock. This trend is expected to continue as developers and urban planners seek innovative solutions to meet the growing demand for housing in the city.
Frequently Asked Questions
What is the total area of the two housing societies being redeveloped by Mahindra Lifespaces?
The two housing societies being redeveloped by Mahindra Lifespaces are spread over 2.6 acres and 1.8 acres, respectively, totaling 4.4 acres.
What is the combined gross development potential of the two projects?
The combined gross development potential of the two projects is around Rs 1,700 crore.
Who is the Chief Business Officer, Residential, of Mahindra Lifespace Developers?
Vimalendra Singh is the Chief Business Officer, Residential, of Mahindra Lifespace Developers.
Why is redevelopment important in the Mumbai region's property market?
Redevelopment is crucial in the Mumbai region's property market due to the city's constrained land availability and the need to replace ageing building stock, especially in land-starved areas and peripheral regions.
What other projects is Mahindra Lifespaces currently executing in Mumbai?
Mahindra Lifespaces is currently executing redevelopment and greenfield projects in Mumbai, adding to its growing portfolio in the city.
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