Mahindra Lifespace Developers Limited , the real estate arm of the Mahindra Group, has announced a significant expansion of its portfolio in Mumbai's real estate market. The company has been selected as the partner for redeveloping two housing societies in Chembur, a strategic location in Mumbai, with an estimated combined Gross Development potential of approximately Rs 1,700.00 crores.

Project Details

The redevelopment project encompasses two housing societies spanning 2.60 acres and 1.80 acres respectively, located in the Diamond Garden area of Chembur. Mahindra Lifespace aims to transform these properties into modern, sustainable residential complexes that offer an enhanced living experience for residents.

Strategic Location and Connectivity

The project's location in Chembur is particularly noteworthy due to its excellent connectivity:

• Situated just 1.50 kilometers from the Eastern Freeway
• Direct access to Thane, Navi Mumbai, and other key parts of Mumbai
• Proximity to the upcoming Diamond Garden Metro Station on Line 2
• Nearby Monorail and Railway links
• Close to business hubs such as Bandra Kurla Complex (BKC) and Powai

Focus on Sustainability and Modern Amenities

Vimalendra Singh, Chief Business Officer – Residential at Mahindra Lifespace Developers Ltd., emphasized the company's commitment to sustainability and quality. He stated, "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."

The redevelopment will feature:

• Well-planned homes designed with a focus on sustainability
• Modern amenities catering to contemporary lifestyles
• Environmentally responsible practices aligned with Mahindra Lifespace's commitment to Net Zero homes

Market Impact and Future Prospects

This project marks a significant step for Mahindra Lifespace in the redevelopment sector of Mumbai's real estate market. The company's selection for this project underscores its reputation and capabilities in urban redevelopment.

Chembur, known for its strategic location connecting the city's business districts with eastern suburbs, is poised for further growth. Recent announcements permitting higher redevelopment potential in the area are expected to enhance long-term value creation, making this project a timely investment for Mahindra Lifespace.

Company Background

Mahindra Lifespace Developers Limited, established in 1994, is part of the Mahindra Group. The company has a development footprint spanning 49.26 million sq. ft. of completed, ongoing, and forthcoming residential projects across seven Indian cities. It also manages over 5000 acres of ongoing and forthcoming projects under development at its integrated developments and industrial clusters across four locations.

The company is committed to sustainability, having maintained a 100% Green portfolio since 2014, and aims to achieve carbon neutrality by 2040. Mahindra Lifespaces has received over 90 awards for its projects and ESG initiatives, solidifying its position as a leader in sustainable urban development in India.

This latest project in Chembur aligns with Mahindra Lifespace's strategy of creating high-quality, sustainable living spaces in prime urban locations, further strengthening its position in Mumbai's competitive real estate market.

Mahindra Lifespaces Developers -RE , a prominent real estate developer, has announced the launch of its latest residential project, 'Codename64', in Malad West, Mumbai. The project, set to be unveiled on June 23, 2025, marks the company's strategic entry into Mumbai's redevelopment space.

Project Highlights

'Codename64' offers a range of 2 and 3 BHK residences, catering to both domestic and international markets. The development boasts approximately 2.2 acres of landscaped recreational space, providing residents with a host of amenities:

• Half Olympic-sized swimming pool
• Clubhouse with indoor gym
• Badminton court
• Children's play areas

Strategic Location

The project's location is one of its key selling points:

• Situated just 500 metres from Malad Metro Station
• Easy access to schools, healthcare facilities, and shopping malls
• Proximity to business hubs

This strategic positioning is expected to appeal to homebuyers looking for convenience and connectivity in Mumbai's bustling real estate market.

Regulatory Compliance

Mahindra Lifespace Developers has ensured that 'Codename64' is registered with the Maharashtra Real Estate Regulatory Authority, demonstrating the company's commitment to regulatory compliance and transparency.

Company Expansion

The launch of 'Codename64' is part of Mahindra Lifespace Developers' broader expansion strategy. The company currently boasts:

• A development footprint of 41.11 million sq. ft. across seven Indian cities
• Over 5000 acres under development at four locations

This new project not only adds to their impressive portfolio but also signifies their entry into Mumbai's redevelopment sector, a move that could open up new growth opportunities for the company.

As the real estate market continues to evolve, Mahindra Lifespace Developers' foray into redevelopment with 'Codename64' represents a significant step in their strategic expansion plans. The project's blend of prime location, modern amenities, and regulatory compliance positions it as an attractive option for potential homebuyers in Mumbai's competitive real estate landscape.