Mahindra Lifespace Developers recently informed exchanges that its subsidiary, Anthurium Developers Limited (ADL), has entered into a Joint Development Agreement with GKW Limited for 36.87 acres of land in Mumbai.
Covering approximately 36.87 acres (149,239.70 square meters), the project is set to transform this area into a mixed-use residential and commercial/retail complex.
As per the agreement, ADL will manage the entire construction and development process, securing a 70.5% revenue share, while GKW Limited will receive 29.5%. This revenue split may adjust based on milestone achievements outlined in the JDA. The development will feature a total net carpet area of approximately 3,63,195.10 square meters, catering to Mumbai’s growing demand for mixed-use spaces.
