Mahindra Lifespace & GKW Joint Development in Mumbai - 36 Lakh sq ft

New Delhi, Nov 8 (PTI) Realty firm Mahindra Lifespace Developers Ltd on Friday said it has tied up with GKW Ltd for the joint development of a 37-acre land parcel in Bhandup, Mumbai, with a development potential of around 36 lakh square feet.

Mahindra Lifespace is the real estate and infrastructure development arm of the Mahindra Group.

In a regulatory filing, the company announced "a joint development with GKW Ltd for a 37-acre land parcel in Bhandup, Mumbai. This land parcel will have a development potential of around 3.6 million square feet."

The deal will strengthen the company's presence in Mumbai.

"It will be one of the largest urban mixed-use developments for Mahindra Lifespace Developers Ltd (MLDL), primarily focused on the residential segment, along with supporting commercial and retail components," the company said.

Real estate consultant Anarock Group firm Anarock Capital facilitated the deal.

"This strategic development in Bhandup reinforces our goal of expanding Mahindra Lifespaces' footprint in Mumbai. The project aligns with our vision to achieve 5x growth while remaining committed to innovative designs, sustainability, and creating vibrant communities," said

Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd.

The company's development footprint spans 38.49 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities. It has over 5,000 acres of ongoing and forthcoming projects under development/management at its integrated developments / industrial clusters across four locations.