Mahindra Lifespace Developers, a prominent player in India’s real estate sector, has secured two new redevelopment projects in Mumbai. The company has been selected as the preferred partner for the redevelopment of two residential housing societies located in the Lokhandwala Complex, Andheri West. These projects are expected to generate a total revenue of approximately Rs 12 billion.

The redevelopment will be carried out under the Maharashtra state government's cluster development scheme, which aims to revitalize older and congested urban areas through planned infrastructure and residential upgrades. This initiative is aligned with the state’s broader efforts to improve housing quality and optimize urban land use in key metropolitan areas.

Mahindra Lifespace Developers operates across two main business verticals. The first focuses on residential development, with projects offered under the ‘Mahindra Lifespaces’ and ‘Mahindra Happinest’ brands, catering to both premium and affordable housing segments. The second vertical specializes in integrated cities and industrial clusters, operating under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands. These developments aim to create sustainable urban ecosystems with a mix of residential, commercial, and industrial spaces.

With this latest development in Andheri West, Mahindra Lifespace continues to strengthen its presence in Mumbai's real estate market, contributing to the city’s urban renewal efforts while also expanding its portfolio of residential redevelopment projects.

News source: CNBC TV18