Mumbai: Mahindra Lifespaces Developers Limited (MLDL) has been selected as the preferred developer for a premium residential society redevelopment in Mulund West, Mumbai, with expected revenue of ₹1,250 crore.
The project encompasses a 3.08-acre land plot with outstanding connectivity, situated 1.4 km from the forthcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. This site also provides convenient access to the Eastern Express Highway and Mulund-Airoli Bridge, advantageous for travelling to Navi Mumbai and various business areas.
Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers Ltd, 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."
The firm is redirecting its attention to the high-end market, intending to leave the affordable housing sector by FY30. Amit Sinha, MD and CEO, highlighted a strategic emphasis on premium properties valued between ₹1 crore and ₹10 crores in Mumbai and NCR, with luxury thresholds set above ₹10 crores. Mahindra Lifespaces plans to discontinue its affordable housing projects because of previous performance challenges, while honoring current customer obligations gradually.
Upcoming Redevelopment Projects In Mumbai
A total of ₹10,966 crores is allocated for various Metro lines, including Line 2B (D.N. Nagar – Mandale), Line 4 (Wadala-Kasarvadavali), Line 5 (Thane-Kalyan), Line 6 (Swami Samarth Nagar – Kanjurmarg), Line 9 (Dahisar to Mira–Bhayandar), Line 7A (Andheri to CSMIA), and Line 12 (Kalyan – Taloja).
Major projects include the Thane to Borivali tunnel, regional water source development projects, a coastal connectivity tunnel, and the Uttan to Virar Coastal Project. New projects for 2025–26 include metro extensions and various infrastructure developments.
