Mahindra Lifespaces to redevelop four Malad societies, eyes ₹800 crore

The project spans 1.65 acres in Malad (West) and marks Mahindra Lifespaces' deeper push into Mumbai's booming redevelopment market

Mahindra Lifespace Developers, the real estate and infrastructure arm of the Mahindra Group, has been chosen as the preferred partner to redevelop four residential societies in Malad (West), Mumbai. Spread across about 1.65 acres, the project has a potential revenue of around ₹800 crore, the company said on Friday.

 

Located near the company’s ongoing Mahindra Codename64 project in the same micro-market, the site enjoys strong connectivity — about 2.6 kilometres from the Western Express Highway, less than 1 kilometre from the Malad West Metro Station, and around 1.5 kilometres from Malad Railway Station. Its proximity to major business hubs such as Mindspace and Bandra Kurla Complex (BKC) adds to its attractiveness, Mahindra Lifespaces said in a statement.

 

“This project further strengthens our presence in Mumbai’s redevelopment market, reflecting the trust our brand has earned with customers and communities,” said Vimalendra Singh, chief business officer – residential, Mahindra Lifespace Developers. He added that the company’s focus on design and quality makes it a preferred choice for societies seeking redevelopment, aligning with its strategy to deepen its presence in established micromarkets.

 

Redevelopment pipeline rising across Mumbai

 

Mumbai’s society redevelopment segment has seen rapid expansion over the past few years. Projects across the Mumbai (MCGM) region are expected to add about 44,277 new homes as free-sale components worth ₹1.31 trillion by 2030, according to Knight Frank India.

 

Since 2020, 910 housing societies have signed development agreements, unlocking around 326.8 acres of land based on floor-space index (FSI) norms and average unit sizes.

 

Malad West emerges as active micro-market

 

Malad (West) continues to be one of Mumbai’s most active housing markets. Between July 2024 and June 2025, the area recorded 1,887 new sale transactions with a gross sales value of ₹2,696 crore, according to Square Yards Data Intelligence.

 

As of the second quarter of 2025, the average property rate in Malad (West) stood at ₹33,867 per square foot, up from ₹32,969 per square foot in the same quarter last year, reflecting steady appreciation amid sustained housing demand.