The projected gross development value of this project is approximately ₹1,250 crore. The company received the formal notification on June 26, 2025. The redevelopment will cover a 3.08-acre site. This location boasts excellent connectivity, situated just 1.4 km from the forthcoming Mumbai Metro Line 5 and
0.8 km from the Goregaon-Mulund Link Road.
Additionally, it provides easy access to the Eastern Express Highway and the Mulund-Airoli Bridge, enabling convenient travel to Navi Mumbai and other commercial hubs.
Also Read: Mahindra Lifespace targets ₹400-500 crore annual revenue from industrial parks for FY26
Vimalendra Singh, Chief Business Officer – Residential at Mahindra Lifespace Developers, stated, “At Mahindra Lifespaces, our redevelopment approach focuses on generating value for both residents and the city.
We strive to integrate design excellence with sustainability and timely delivery. Given the strong connectivity and access to employment centers in South Mumbai, Navi Mumbai, and Thane, this project is set to significantly contribute to the region’s growth narrative.”
Earlier this year in February, Mahindra Lifespace Developers announced its selection to redevelop three residential complexes in Mumbai, with an estimated project value of ₹950 crore.
The redevelopment will take place in Lokhandwala Complex, Andheri West, Mumbai. The Gross Development Value (GDV) for this initiative is projected at approximately ₹950 crore.
Also Read: Mahindra Lifespace eyes ₹1,200 cr revenue from two housing redevelopment projects in Mumbai
“We wish to inform you that, following regulatory procedures, the Company has been selected as the developer for the redevelopment of three residential societies in Lokhandwala Complex, Andheri West, Mumbai.
This project carries an estimated Gross Development Value of around ₹950 crore. The notification confirming this has been received on 3rd February 2025,” the company announced.
Shares of Mahindra Lifespace Developers Ltd closed at ₹363.45, a decrease of ₹4.30, or 1.17%, on the BSE.
Also Read: Mahindra Group firms to raise ₹4,500 crore via rights issues
