Mahindra Lifespace Redevelops Mumbai Housing Society

New Delhi, Dec 3 (PTI) Realty firm Mahindra Lifespace Developers Ltd will redevelop a housing society in Mumbai and expects to earn a revenue of Rs 1,010 crore from the sale of free area.

In a regulatory filing on Wednesday, Mahindra Lifespace Developers informed that the company has been selected as the preferred partner for a residential redevelopment project in Matunga, Mumbai.

"The project spans approximately 1.53 acres, with a gross development value of around Rs 1,010 crore, further strengthening our footprint in the Mumbai micro market," it added.

Mahindra Lifespace, a real estate arm of Mahindra Group, has a development footprint spanning 53.30 million sq ft (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities.

It also has over 5,000 acres of ongoing and forthcoming projects under development/management at its industrial clusters across four locations.