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.
Vimalendra Singh, chief business officer – residential, Mahindra Lifespace Developers, said, “We are pleased to add this project to our growing Mumbai portfolio. Building on the success of Mahindra Vista in the Kandivali micro-market, this acquisition further strengthens our presence in one of Mumbai's most promising residential destinations. Acquired through a competitive bidding process, the opportunity aligns with our strategy of expanding into markets with strong end-user demand and long-term growth potential.”
The company added that the open greenfield land parcel benefits from excellent connectivity to the Western Express Highway and existing metro corridors. The project's accessibility is expected to be further enhanced by the upcoming Borivali–Thane Twin Tunnel.
Further, according to Housing.com, a real estate platform, 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 (YoY).
Additionally, Mahindra Lifespaces' development footprint spans 53.65 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities, and over 5,000 acres of ongoing and forthcoming projects under development or management at its integrated developments and industrial clusters.
Earlier, Mahindra Lifespaces' consolidated sales during FY26 stood at ₹4,118 crore, up 25 per cent YoY. Its residential pre-sales in FY26 stood at ₹3,405 crore, up 21.43 per cent YoY.
As of FY26, the total GDV of Mahindra Lifespaces' overall portfolio stood at ₹45,180 crore. It aims to achieve pre-sales of ₹9,500 crore by FY30.