en.Wedoany.com Reported - Real estate developer Mahindra Lifespace Developers Ltd has acquired a 15-acre plot in Kandivali East, Mumbai, planning to develop a residential project with a built-up area of approximately 1.8 million square feet, with an estimated gross development value (GDV) of around INR 56 billion.
The company stated in a statement that the project's accessibility is expected to be enhanced by the upcoming Borivali–Thane Twin Tunnel, an infrastructure project that will significantly reduce commute times between Mumbai's western suburbs and Thane, improving regional connectivity and supporting long-term growth prospects.
Vimalendra Singh, Chief Business Officer (Residential) of Mahindra Lifespace Developers Ltd, expressed delight in adding this plot to the company's Mumbai project portfolio. This acquisition builds on the success of the earlier Mahindra Vista project in the Kandivali micro-market, further strengthening its presence in the area. The plot was acquired through a bidding process, aligning with the company's strategy to expand in markets with strong end-user demand and long-term growth potential.
According to the company, the plot is located in Kandivali East with convenient access to the Western Express Highway (WEH) and existing metro corridors. The area boasts well-established social infrastructure including schools, hospitals, and retail centers, with residential absorption remaining consistently strong driven by end-user demand.
In March 2026, Mahindra Lifespace Developers launched a residential project named "Mahindra Rainforest" in the Kanjur Marg area of Mumbai, with an estimated development value of INR 30 billion. The project is a premium mixed-use development spanning 25.47 acres. According to the company, the residential community will be developed in phases, offering 2BHK and 3BHK apartments, and will feature over 350,000 square feet of open amenities and clubhouse space, with more than 7 acres of open green areas.
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