Mahindra Lifespaces inks pact to redevelop housing society in Mumbai’s Malad Suburb

Mahindra Lifespace Developers Limited, the real estate and infrastructure development arm of the Mahindra Group, agreed to redevelop a housing society in Mumbai's Malad suburb.

The project to be developed on the land parcel spread over around 3.68 acres is estimated to offer Mahindra Lifespaces a revenue potential of around Rs 850 crore.

"We foresee society redevelopment as an exciting opportunity for established real estate developers like Mahindra Lifespaces. In a city like Mumbai, with few prospects for greenfield construction due to a scarcity of vacant land parcels, redevelopment offers an exciting route for growth while enabling existing property owners to upgrade to larger, better residences with modern facilities," Amit Sinha, Director, and Board member, Mahindra Lifespace Developers.