Mahindra Lifespace Developers Ltd. (MLDL), the real estate arm of the Mahindra Group, announced on September 16 that it has been chosen as the partner for the redevelopment of two housing societies in Chembur, Mumbai. The projects together carry a gross development potential of approximately ₹1,700 crore.
The redevelopment covers two society plots spanning about 2.6 acres and 1.8 acres, located in the Diamond Garden area. The project will deliver modern homes with a focus on sustainability, amenities, and enhanced connectivity. The location benefits from proximity to the Eastern Freeway, the upcoming Diamond Garden Metro Station on Line 2, and other transport links, while being close to major business hubs such as BKC and Powai.
Vimalendra Singh, Chief Business Officer – Residential, MLDL, said redevelopment continues to be a key growth driver and the company is committed to bringing high-quality residential projects to neighborhoods with strong housing demand.
Mahindra Lifespaces, established in 1994, has a development footprint of 49.26 million sq. ft. across seven cities, with projects under premium housing, value homes under the ‘Mahindra Happinest’ brand, and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands.
The company, a pioneer in Net Zero housing, has pledged to build only Net Zero homes from 2030 onwards and is working toward carbon neutrality by 2040.
