Mahindra Lifespaces to Redevelop Premium Mulund West Society

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The announcement, made on June 27, 2025, adds another marquee redevelopment mandate to the company's fast-growing Mumbai portfolio.

The society at the centre of the deal is St. Pius Ten CHS Ltd, with the formal go-ahead confirmed on June 26. The project spans a 3.08-acre land parcel and carries an estimated development value of approximately Rs 1,250 crore, making it one of MLDL's larger redevelopment bets in the city this year.

Location is a key part of the pitch. The site sits just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road, while also offering seamless access to the Eastern Express Highway and the Mulund-Airoli Bridge, easing travel to Navi Mumbai, Thane, and other business hubs. This mix of metro connectivity and expressway access is a big reason the eastern suburb has stayed on developers' radar despite being a largely built-out market.

Commenting on the project, Vimalendra Singh, Chief Business Officer – Residential at Mahindra Lifespace Developers Ltd, said the company's redevelopment philosophy centres around creating value for residents and the city, adding that the aim is to blend design excellence with sustainability and on-time delivery, and that the project is poised to be a key contributor to the area's continued growth story given its access to employment hubs in South Mumbai, Navi Mumbai and Thane.

The timing lines up with strong underlying demand in Mulund West. Between April 2024 and March 2025, the micro-market recorded 1,891 new property sale transactions worth Rs 3,960 crore, according to Square Yards Data Intelligence, while average prices climbed from Rs 33,779 per sq ft in Q1 CY24 to Rs 34,534 per sq ft in Q1 CY25. For existing society members, that price trajectory strengthens the case for redevelopment as a way to unlock value from ageing buildings.

This isn't an isolated move. Mahindra Lifespaces has been on a redevelopment spree across Mumbai's western and eastern suburbs, having been appointed in April 2025 as the preferred partner for two residential societies in Lokhandwala Complex, Andheri West, and earlier bagging a Rs 950 crore redevelopment mandate for three societies in the same complex under Maharashtra's cluster redevelopment policy. The company has also picked up mandates in Santacruz West and Chembur, alongside a fresh 8.2-acre land acquisition in North Bengaluru worth Rs 1,000 crore in GDV terms.

Across its overall business, Mahindra Lifespaces' development footprint spans 41.11 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities, backed by over 5,000 acres under development or management at its integrated developments and industrial clusters. For homebuyers eyeing the eastern suburbs, the Mulund West project signals more premium, redeveloped inventory entering a locality where fresh land is scarce and resale prices have been steadily climbing.