Mahindra Lifespaces signs JDA for 37- acre Land parcel in Mumbai

Mahindra Lifespaces Developers Limited (MLDL), a publicly traded real estate developer, announced a collaborative development agreement with GKW Ltd for a 37-acre plot of land in the Bhandup neighborhood of Mumbai. According to a statement from the corporation, the property tract will have approximately 3.6 million square feet of development possibilities.

The agreement strengthens MLDL's position in Mumbai. According to a statement from the business, it will be one of MLDL's biggest urban mixed-use complexes, with a primary concentration on the residential market and ancillary commercial and retail elements. 

According to local brokers, residential project property prices in the Bhandup area range from ₹20,000 to ₹25,000 per square foot.

The location offers excellent connectivity to commercial hubs and easy access to the rest of the city via the Jogeshwari-Vikhroli Link Road, the Eastern Express Highway, as well as excellent train and metro connectivity, " the company says in a statement.

"This strategic development in Bhandup reinforces our goal of expanding Mahindra Lifespaces’ footprint in Mumbai. The project aligns with our vision to achieve 5x growth while remaining committed to innovative designs, sustainability, and creating vibrant communities. With its scale and prime location, this project marks a significant chapter in our journey forward," says Amit Kumar Sinha, Managing Director and CEO, Mahindra Lifespace Developers.

"This transaction aligns with our vision to expand our footprint in the real estate space. We look forward to working with the Mahindra team to develop a world-class, mixed-use project and create value for our shareholders," K K Bangur, Chairman, GKW stated.