Mahindra Lifespaces to Rebuild Mulund West Housing Project with ₹1,250 Crore Revenue Potential
Mahindra Lifespaces Developers Limited (MLDL) has been appointed the preferred developer for a premium housing society redevelopment in Mulund West, Mumbai, with an estimated revenue of ₹1,250 crore.
Mumbai Real EstateMahindra LifespacesRedevelopmentPremium HousingMulundReal Estate MumbaiJun 27, 2025
In a regulatory filing on Friday, the company informed that it has been appointed as the 'preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai.' According to the company, the project spans a 3.08-acre land parcel and has an estimated development value of approximately ₹1,250 crore.
The site offers excellent connectivity, being just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also provides seamless access to the Eastern Express Highway and the Mulund-Airoli Bridge, facilitating convenient travel to Navi Mumbai and other business hubs.
At Mahindra Lifespaces, our redevelopment philosophy centres around creating value for residents and the city. We aim to blend design excellence with sustainability and on-time delivery. With robust connectivity and access to employment hubs in South Mumbai, Navi Mumbai, and Thane, this project is poised to be a key contributor to the area’s continued growth story, said Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers Ltd.
According to local brokers, the per sq ft price of a residential apartment in Mulund is in the range of ₹20,000 to ₹30,000 per sq ft.
In the last five months, the company has announced multiple redevelopment projects in the Mumbai real estate market, with a potential value of close to ₹5,000 crore. This includes a cluster redevelopment project in Mumbai's Mahalaxmi, with a Gross Development Value (GDV) of ₹1,650 crore. The company also announced the redevelopment of five housing societies in the Andheri West area of Mumbai, with a potential value of over ₹2,150 crore.
The company plans to exit from the affordable housing segment for the time being, stating that it will have zero affordable housing projects on its books by FY30. Speaking during the Q4 FY25 investor call, Amit Sinha, MD and CEO of Mahindra Lifespaces, had said, 'We focus on premium. Premium is defined as more than ₹1 crore to ₹10 crores in NCR and Mumbai, above which the 10 crore market is a threshold for luxury. But in other markets like Pune and Bengaluru, ₹1 to ₹5 crores is mid-premium and premium. So, that is what we want to focus on.'
Affordable has not done well for us, and that is something we want to sunset over a period of time. We have to fulfil our customer commitments, which we will do over time, Sinha had said.
Frequently Asked Questions
What is the estimated revenue potential of the Mulund West housing project?
The estimated revenue potential of the Mulund West housing project is ₹1,250 crore.
What is the size of the land parcel for the redevelopment project?
The project spans a 3.08-acre land parcel.
What are the key connectivity features of the project site?
The site offers excellent connectivity, being just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also provides seamless access to the Eastern Express Highway and the Mulund-Airoli Bridge.
What is Mahindra Lifespaces' focus in the real estate market?
Mahindra Lifespaces is focusing on the premium segment, with a threshold of ₹1 crore to ₹10 crores in NCR and Mumbai, and ₹1 to ₹5 crores in other markets like Pune and Bengaluru.
What is the company's plan regarding affordable housing?
The company plans to exit from the affordable housing segment and will have zero affordable housing projects on its books by FY30.
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