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Mahindra Lifespace Developers Ltd (MLDL), part of the Mahindra Group, has been chosen to execute two society redevelopment projects in Chembur, Mumbai, with a combined gross development potential of nearly INR 1,700 crore. Covering 2.6 and 1.8 acres in the Diamond Garden locality, the projects will deliver modern, sustainable homes with upgraded community amenities. MLDL's Chief Business Officer, Vimalendra Singh, said redevelopment is central to the company's growth strategy in high-demand areas. Well-connected to Navi Mumbai, Thane, BKC, and Powai, the sites benefit from the upcoming Diamond Garden Metro Station and improved infrastructure, positioning them strongly within Mumbai's evolving real estate market.
Mahindra Lifespace Developers Limited (MLDL), part of the Mahindra Group, announced earlier this week that it had been selected to undertake two society redevelopment projects in Chembur, Mumbai. Together, the projects carry a gross development potential of close to INR 1,700 crore. Advertisement
The societies in question cover about 2.6 acres and 1.8 acres respectively. Once completed, the redevelopment will deliver thoughtfully designed homes, incorporating sustainable practices, modern features, and enhanced community amenities.
Vimalendra Singh, Chief Business Officer - Residential at MLDL, observed that redevelopment remained integral to the firm's growth plans as it allowed the delivery of high-quality projects in areas with robust housing demand. He noted that the trust placed by the societies was significant and explained that the company looked forward to contributing to Chembur's ongoing development story through these ventures.
Both projects are situated in the Diamond Garden locality, an area long regarded for its connectivity to Mumbai's business districts and the eastern suburbs. Recent policy changes allowing higher redevelopment potential are expected to further enhance the value of such projects in Chembur.
Located just 1.5 kilometres from the Eastern Freeway, the sites provide direct access to Navi Mumbai, Thane, and other key parts of the city. Their appeal is further strengthened by upcoming infrastructure including the Diamond Garden Metro Station on Line 2, as well as proximity to the Monorail and suburban railway links. In addition, closeness to business hubs like Bandra-Kurla Complex (BKC) and Powai positions the redevelopment projects advantageously within Mumbai's real estate landscape.
Source: Mahindra Lifespaces
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