Mahindra Lifespace Developers Limited (MLDL), the real estate arm of the Mahindra Group, has announced its selection as the redevelopment partner for two residential housing societies in Chembur, Mumbai. Together, the projects have a combined gross development potential of around ₹1,700 crore, further strengthening the company’s presence in the city’s redevelopment-driven housing market.
According to the company, the two societies are located in the Diamond Garden area of Chembur, spanning approximately 2.6 acres and 1.8 acres. The projects will be developed into modern residential complexes, with a design focus on sustainability, enhanced amenities, and improved connectivity.
Chembur has long been considered a strategic location due to its connectivity with business districts such as Bandra-Kurla Complex (BKC) and Powai. The area also benefits from proximity to the Eastern Freeway, the Monorail, and suburban rail links. The upcoming Diamond Garden Metro Station on Mumbai Metro Line 2 is expected to provide additional connectivity, strengthening its position as a desirable residential hub.
In a statement, MLDL said the redevelopment will deliver well-planned homes that balance contemporary design with environmentally responsible practices. The aim is to create an improved living environment for existing residents while adding new residential options in a high-demand neighborhood.
Vimalendra Singh, Chief Business Officer – Residential at Mahindra Lifespace Developers Ltd, said redevelopment continues to be a key growth driver for the company. He noted that society redevelopments provide opportunities to introduce quality residential projects in mature city neighborhoods where demand for modern homes remains strong.
The redevelopment projects will include a mix of amenities such as landscaped spaces, community zones, and features designed to promote sustainable living. While specific details of unit sizes and configurations are yet to be disclosed, MLDL emphasized that the projects will follow the company’s approach of integrating design efficiency, customer-centric planning, and eco-friendly construction practices.
Chembur’s housing market has seen renewed attention from developers following recent regulatory announcements permitting higher redevelopment potential in the city. Industry analysts note that this has made society redevelopment more viable for developers, while also enhancing the potential value for existing residents and future homebuyers.
For Mahindra Lifespace, these Chembur projects add to its growing redevelopment portfolio in Mumbai, aligning with the company’s strategy of focusing on high-potential urban neighborhoods. Over the past few years, MLDL has increasingly diversified into redevelopment projects, reflecting the limited availability of large land parcels in established city locations.
The Chembur developments are also expected to contribute to the company’s sales pipeline in Mumbai, where demand for mid-to-premium segment housing continues to outpace supply. With rising property values across the city and growing buyer preference for homes in well-connected neighborhoods, the projects are likely to attract both end-users and investors.
The Diamond Garden area, with its blend of social infrastructure, schools, hospitals, and proximity to commercial hubs, is already regarded as a residential hotspot. The upcoming projects are positioned to further strengthen its appeal by delivering modern, amenity-rich housing under an established developer brand.
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