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Three societies added to the company’s redevelopment portfolio across Borivali and Chembur

Mumbai: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has added three societies to its residential redevelopment portfolio in Mumbai, with the projects having a combined potential Gross Development Value (GDV) of ₹1,500 crore.

The additions comprise two societies in a redevelopment project in Borivali and one society in an existing redevelopment project in Chembur. The projects expand Mahindra Lifespaces' presence in Mumbai's established residential neighbourhoods and add to its growing redevelopment portfolio.

Expanding Mumbai Redevelopment Portfolio

The latest additions form part of Mahindra Lifespaces' broader residential growth strategy, with a focus on redevelopment opportunities in established locations across the Mumbai Metropolitan Region.

Commenting on the development, Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers Ltd., said Mumbai's redevelopment market provides opportunities to expand the company's residential business while leveraging its development experience in established neighbourhoods.

He added that the three societies strengthen the company's redevelopment portfolio across Mumbai and contribute to its objective of building a broader and more diversified residential business.

Focus on Established Locations

Redevelopment continues to provide opportunities for residential developers to participate in established urban locations where existing housing societies can be transformed into modern residential developments.

With the addition of the Borivali and Chembur projects, Mahindra Lifespaces is further strengthening its presence across Mumbai's redevelopment market.

The company's residential portfolio currently includes developments across Mumbai, Pune, Chennai and Bengaluru, covering a range of premium residential projects.

The latest projects add ₹1,500 crore of potential GDV to the company's Mumbai redevelopment portfolio and reinforce its focus on expanding its residential presence through redevelopment opportunities in established urban markets.