Mahindra Lifespace Developers has won its first society redevelopment projects in Mumbai, from which it expects revenue of ₹500 crore.
The company has been selected to redevelop two adjacent residential societies in the suburb of Santacruz West. It will soon be signing documents for redevelopment after completing its due diligence, it said.
Arvind Subramanian, Managing Director and CEO, Mahindra Lifespaces, said, “Society redevelopment offers an attractive avenue for new real estate development in fully built-out neighbourhoods in Mumbai. It enables homeowners in existing properties to upgrade to bigger and better homes.”