Mahindra Lifespace Developers Ltd has announced significant progress in its growth trajectory with two new deals in Mumbai and Bengaluru, boasting a combined gross development value (GDV) potential of ₹2,050 crore.
On July 4, the company revealed its selection as the preferred partner for the redevelopment of seven residential societies in Borivali West, Mumbai. This project is expected to generate an estimated GDV of approximately ₹1,800 crore and will be developed under the state's cluster redevelopment policy.
In addition to the Mumbai redevelopment project, Mahindra Lifespaces has recently acquired 2.37 acres of land in Singasandra, South Bengaluru. This new land acquisition is adjacent to the company's existing Mahindra Zen project. The Bengaluru site is estimated to offer a developable potential of around 0.25 million sq ft, with a GDV of ₹250 crore.
Amit Kumar Sinha, Managing Director and CEO of Mahindra Lifespace Developers Ltd, emphasized the importance of these strategic moves, stating, "These strategic moves in Mumbai and Bengaluru, with a combined GDV potential of ₹2050 crore, mark a significant milestone in our growth trajectory. Our third redevelopment project in Mumbai, with a GDV of ₹1800 crore, reinforces our commitment to urban renewal by creating value in established neighborhoods."
These new ventures underline Mahindra Lifespaces' dedication to urban renewal and development in key metropolitan areas, further solidifying its presence in the Indian real estate market.
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