Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has acquired a 15-acre land parcel in Kandivali East in the Mumbai Metropolitan Region (MMR). The company will develop a residential project on the acquired land, with an estimated gross development value (GDV) of approximately ₹5,600 crore and a development potential of around 1.8 million square feet.
In a regulatory filing on Friday, the company confirmed that the land parcel is located at Kandivali East, Mumbai, and that the land has been acquired through a competitive bidding process, though the company did not disclose the bid value.
Strategic Location Boosts Project Appeal
The project is strategically located in Kandivali East, on an open greenfield land parcel that benefits from excellent connectivity to the Western Express Highway and existing metro corridors. The area is supported by established social infrastructure, including schools, hospitals, and retail hubs, and continues to witness strong residential absorption driven by end-user demand.
Adding to its appeal, the project's accessibility is expected to be further enhanced by the upcoming Borivali–Thane Twin Tunnel, a landmark infrastructure initiative set to improve connectivity in the region.
On the pricing front, according to Housing.com, average property prices in Kandivali East during the first three months of 2026 stood at ₹23,312 per square foot, up 24.46 per cent year-on-year, reflecting strong demand in the micro-market.
Company's Statement on the Acquisition
Speaking on the acquisition, Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers, said the company is pleased to add this project to its growing Mumbai portfolio. Building on the success of Mahindra Vista in the Kandivali micro-market, he noted that this acquisition further strengthens the company's presence in one of Mumbai's most promising residential destinations, and that the opportunity, acquired through a competitive bidding process, aligns with the company's strategy of expanding into markets with strong end-user demand and long-term growth potential.
Company Profile and Financial Performance
Established in 1994, Mahindra Lifespace Developers' development footprint spans 53.65 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities. The company also has over 5,000 acres of ongoing and forthcoming projects under development or management at its integrated developments and industrial clusters.
On the financial side, Mahindra Lifespaces' consolidated sales during FY26 stood at ₹4,118 crore, up 25 per cent year-on-year. Its residential pre-sales in FY26 stood at ₹3,405 crore, up 21.43 per cent year-on-year. As of FY26, the total GDV of Mahindra Lifespaces' overall portfolio stood at ₹45,180 crore.
This latest acquisition in Kandivali East adds meaningfully to that pipeline, reinforcing the company's continued push to expand its presence across India's most active residential real estate markets.
Discover more projects by Mahindra Lifespaces and explore premium residential developments designed for comfort, connectivity, and long-term value.
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