Mahindra Lifespace to rebuild 3.68-acre housing project in Mumbai
Mahindra Lifespace Developers has announced a new agreement to redevelop a housing society located in the Malad suburb of Mumbai. The land parcel spans approximately 3.68 acres and has a revenue potential of around Rs 850 crore. Amit Sinha, Director and Board member of Mahindra Lifespace Developers, noted that the company sees society redevelopment as an exciting opportunity for established real estate developers, particularly in a city like Mumbai where greenfield construction is limited due to a scarcity of vacant land parcels. By redeveloping existing properties, Mahindra Lifespaces can provide residents with upgraded, modern facilities and larger, better residences. The company intends to evaluate additional opportunities for growth and expansion of its residential portfolio in Mumbai.