By Kailash Babar
Copyright indiatimes
Mahindra Lifespace Developers Ltd (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has secured the rights to redevelop two large housing societies in Mumbai’s eastern suburb Chembur.The two societies, located in Chembur’s Diamond Garden area, are spread over 2.6 acres and 1.8 acres, respectively. The projects hold a combined gross development potential of around Rs 1,700 crore, the company said in a release.“Redevelopment continues to play an important role in our growth journey. It enables us to bring high-quality residential projects to neighbourhoods where demand remains strong,” said Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers.The project adds to Mahindra Lifespaces’ Mumbai portfolio, where the company is also executing redevelopment and greenfield projects. This follows a series of similar society-led redevelopment contracts awarded in the Mumbai Metropolitan Region (MMR), where developers are increasingly looking at infill sites to expand within city limits.Real estate projects involving the redevelopment of old housing societies and rehabilitation are the mainstay of the Mumbai region’s property market, as the land-starved city and its peripheral areas have few vacant land parcels. EndsLive EventsThe redevelopment sector in Mumbai has seen increased activity, especially in eastern and western suburbs, due to constrained land availability and regulatory focus on replacing ageing building stock. Add as a Reliable and Trusted News Source Add Now!
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Read More News onMahindra LifespacesChembur housing societiesMumbai real estatehousing society redevelopmentresidential projects in Mumbaimahindra lifespace developers ltd
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onMahindra LifespacesChembur housing societiesMumbai real estatehousing society redevelopmentresidential projects in Mumbaimahindra lifespace developers ltd(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
