Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has partnered with Livingstone Infra to redevelop a cluster of properties in Mahalaxmi, Mumbai. The ambitious project, with a gross development value (GDV) of approximately Rs 1,650 crore, marks a strategic foray into South Mumbai’s premium real estate market.
The partnership is set to revitalize the area by transforming existing assets into modern, upscale residential and commercial spaces.
In addition to the Mahalaxmi project, MLDL is also redeveloping a project in the Lokhandwala Complex of Andheri West, which is projected to generate a GDV of about Rs 950 crore. These redevelopment initiatives underscore the company’s aggressive growth strategy and commitment to unlocking the latent value of its extensive land bank.
To support its expansion and reduce existing debt, MLDL recently raised Rs 1,500 crore through a rights issue. The fresh capital infusion is expected to fuel the company’s redevelopment projects and further solidify its market presence in high-growth urban areas.
With the redevelopment in Mahalaxmi targeting the premium segment, industry experts anticipate that the project will significantly enhance the urban landscape of South Mumbai, providing state-of-the-art living spaces and robust investment returns. As Mahindra Lifespaces leverages strategic partnerships and strengthened financials, the forthcoming projects are poised to set new benchmarks in Mumbai’s competitive real estate market.