Mahindra Lifespace Secures Major Matunga Redevelopment Deal as Part of Expansion Push

3 Dec 2025 , 10:24 AM

Mahindra Lifespace Developers had picked up a new redevelopment mandate in Matunga, a project valued at about ₹1,010 crore. The developer has been chosen to lead a housing redevelopment spread across roughly 1.53 acre. The plan is to clear the older buildings on the plot and put up a modern residential project in their place.

People aware of the proposal said the company wants to redesign the area with better internal roads, updated layouts and amenities that match current expectations of homebuyers. The idea is to improve how residents move around the space and make the project feel more contemporary.

The location already sits in a busy residential part of Matunga. It is close to Shivaji Park and has schools, hospitals and retail options within a short distance. The area also has good transport access, including metro links, which the company believes will work in its favour once the project is launched.

Speaking about the mandate, Vimalendra Singh, who heads the residential business at Mahindra Lifespace, said Matunga has always been a sought-after neighbourhood. He added that the redevelopment gives the company room to create homes that feel more suited to how people live today.

This update comes at a time when the company is preparing for a faster scale-up. In a recent meeting with investors, managing director and CEO Amit Kumar Sinha said the business needs stronger capital support to keep pace with its growth plans. He mentioned a development pipeline in the range of ₹4,000 crore to ₹6,000 crore, and hinted that it could grow further if more capital comes in.

The company has been pushing harder on redevelopment and city-focused projects. It has set a pre-sales target of around ₹10,000 crore by FY2030.

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