Mahindra Lifespaces to redevelop two housing societies with ₹1,700 cr potential

Mahindra Lifespace Developers Ltd (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been chosen as the redevelopment partner for two housing societies in Chembur, Mumbai.

Together, the projects have a combined gross development potential of around ₹1,700 crore.

The societies, spread across 2.6 acres and 1.8 acres, are located in the Diamond Garden area of Chembur, a neighbourhood long known for its strategic location connecting Mumbai’s business districts with the eastern suburbs. 

The redevelopment will deliver modern, well-planned homes designed with sustainability at the core, offering residents upgraded amenities and improved connectivity, the company said on Tuesday.

“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....through this project we look forward to contributing to the growth story of Chembur,” said Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers Ltd.

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Connectivity is expected to be a key advantage for the projects. Located just 1.5 kilometres from the Eastern Freeway, the sites provide direct access to Thane, Navi Mumbai, and other major parts of the city.

Residents will also benefit from multiple transport options, including the upcoming Diamond Garden Metro Station on Line 2, nearby Monorail services, and established rail links. Proximity to prominent business hubs such as Bandra-Kurla Complex (BKC) and Powai further enhances the area’s appeal.

The company said the redevelopment will not only provide enhanced living standards for current residents but also create long-term value through thoughtful design and environmentally responsible practices.

On Monday, shares of Mahindra Lifespaces closed at ₹368 on the NSE, up 1.09%.