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Mahindra Lifespace announces two redevelopment projects in Mumbai's Chembur with a potential of ₹1,700 cr
Mumbai redevelopment news: Mahindra Lifespace said that the two housing societies are spread across 2.6 acres and 1,8 acres in the Diamond Garden area, Chembur
Mumbai-based listed real estate developer Mahindra Lifespace Developers Limited (MLDL) announced on September 16 that it had been chosen as the partner for two society redevelopment projects in Mumbai's Chembur area, with a combined gross development potential of approximately ₹1,700 crore.
The two societies span 2.6 acres and ~1.8 acres, respectively. The redevelopment will deliver well-planned homes designed with a focus on sustainability, modern amenities, and connectivity. The company said in a statement that it will offer residents an enhanced living experience while creating long-term value through thoughtful design and environmentally responsible practices.
“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. We are grateful for the trust the societies have placed in us, and through this project, we look forward to contributing to the growth story of Chembur," Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers Ltd, said.
According to the company, the project is located in the Diamond Garden area of Chembur, which is long known for its strategic location connecting the city’s business districts with the eastern suburbs.
The company said that Chembur is set to benefit further from recent announcements permitting higher redevelopment potential, enhancing long-term value creation.
"Situated just 1.5 kilometres from the Eastern Freeway, the projects offer direct access to Thane, Navi Mumbai and other key parts of Mumbai. Connectivity will be further strengthened by the Diamond Garden Metro Station on Line 2, along with nearby Monorail and Railway links. Proximity to business hubs such as BKC and Powai makes the location highly accessible and well-positioned for the future," the company said in the statement.
