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Mahindra Lifespaces signs its 100-acre plotted development on Karjat-Murbad Road near Mumbai
Mahindra Lifespaces said that the company plans to launch the 100=acre plotted development in Mumbai Metropolitan Region in the next financial year
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Mumbai-based listed, real estate developer, Mahindra Lifespace Developers Limited (MLDL), announced on November 5 that it has signed a 100 acre plotted development on the Karjat-Murbad Road in the Mumbai Metropolitan Region (MMR), marking its entry into plotted development in the region.
According to the company, this will be its first plotted development project outside Mahindra World City in Chennai. The company plans to the project in MMR in the next financial year.
“In line with our strategy, we look to expand into plotted development in future in MMR, Pune and Bengaluru. Homebuyers today are increasingly seeking greater flexibility and personalization in their residential requirements. Plotted developments offer a compelling proposition through land ownership, customization, and long-term appreciation potential," said Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers Ltd.
"With the trust that customers place in the Mahindra brand, we remain committed to delivering high-quality developments that cater to these preferences and create long-term value for homebuyers," Singh said.
"The launch builds on Mahindra Lifespaces' established presence in plotted developments through Lakefront Estates by Mahindra and Green Estates by Mahindra at Mahindra World City, Chennai. The positive response to these developments reflects the increasing appeal of plotted developments among homebuyers and supports the company's plans to expand this offering to new markets," the company said in its statement.
Also Read: Planning to invest in a plotted development project near Mumbai? Here’s what you should know
What is plotted development?
Plotted development refers to a real estate project in which a developer purchases or acquires a large parcel of land, divides it into smaller individual plots and sells them to buyers. These plots can be used for constructing independent houses, villas or other permitted structures, subject to applicable development regulations and approvals.
Also Read: Land deals for housing projects rise; 7,714 acre transacted during Jan'21-Mar'26: Report
In Maharashtra, several locations such as Lonavala, Khandala near Pune, Dapoli in Konkan region of Maharashtra, Alibaug in Raigad district near Mumbai, Manor in Palghar district near Mumbai, Igatpuri, Kasara Ghat near Nashik and Karjat near Mumbai are known to be having plotted development projects.
Several developers including Lodha Developers, Oberoi Realty Rustomjee Group, Godrej Properties, Wadhwa, House of Abhinandan Lodha (HoABL), Arihant Superstructures among others are involved in construction of second home projects in form of villas, plotted development etc.
