The estimated gross development value of the project is approximately ₹1,250 crore. The company received the formal intimation on June 26, 2025. The redevelopment will span a 3.08-acre land parcel. 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.
Also Read: Mahindra Lifespace targets ₹400-500 crore annual revenue from industrial parks for FY26
Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers, said, “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.”
In February this year, Mahindra Lifespace Developers said it had been selected to redevelop three residential complexes in Mumbai, with an estimated project value of ₹950 crore.
The redevelopment project will take place in Lokhandwala Complex, Andheri West, Mumbai. The Gross Development Value (GDV) of the project is approximately ₹950 crore.
Also Read: Mahindra Lifespace eyes ₹1,200 cr revenue from two housing redevelopment projects in Mumbai
“We hereby inform you that, pursuant to regulatory processes, the Company has been chosen as the developer for the redevelopment of three residential societies in Lokhandwala Complex, Andheri West, Mumbai.
This project offers an estimated Gross Development Value of approximately ₹950 crore. The intimation to this effect has been received on 3rd February 2025,” the company said.
Shares of Mahindra Lifespace Developers Ltd ended at ₹363.45, down by ₹4.30, or 1.17%, on the BSE.
Also Read: Mahindra Group firms to raise ₹4,500 crore via rights issues
