Mahindra Lifespace Developers Limited, announced its foray into society redevelopment in Mumbai. Mahindra Lifespaces has been selected as the preferred partner to redevelop two adjacent residential societies in Santacruz West, one of the prime residential neighbourhoods in Mumbai. The Company and the two societies will execute definitive documents upon completion of due diligence.

The project will offer Mahindra Lifespaces a revenue potential of around INR 5,000 million. Mumbai has limited opportunities for greenfield development due to the absence of vacant land parcels, especially in the island city. The only viable opportunity for any new development is through redevelopment - a market estimated to be worth over INR 30,000 cores.

Mahindra Lifespaces has developed more than 10.77 million square feet of space in the Mumbai Metropolitan Region. Having delivered homes to more than 14,800 satisfied customers across India, it has an overall footprint spanning 32.14 million sq. ft.

of completed, ongoing and forthcoming residential projects across seven Indian cities.