Mahindra Lifespaces acquires 100 acres in Mumbai region for plotted development

Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has acquired 100 acres of land along the Karjat-Murbad road in the Mumbai Metropolitan Region (MMR) for a plotted development project, marking its entry into the segment in the region.

The company is likely to start the project around the middle of the next financial year. It is also looking to acquire additional land in the area, according to people familiar with the development.

The land acquisition is part of Mahindra Lifespace Developers’ efforts to expand its residential development pipeline across key markets. The company has been pursuing projects through outright land acquisitions, joint development agreements and partnerships with landowners.


“In line with our strategy, we look to expand into plotted development in future in MMR, Pune and Bengaluru. Homebuyers today are increasingly seeking greater flexibility and personalization in their residential requirements. Plotted developments offer a compelling proposition through land ownership, customization, and long-term appreciation potential,” said Vimalendra Singh, Chief Business Officer - Residential, Mahindra Lifespace Developers.

The proposed development will be the company’s first plotted project outside Mahindra World City in Chennai. In Chennai, Mahindra Lifespace Developers has established a presence in the segment through two projects.

The Mumbai-region project marks the company’s entry into a segment that has attracted interest from homebuyers seeking land ownership and the option of building independent homes.

Plotted developments have emerged as an alternative to conventional residential projects, with homebuyers showing interest in owning land and having the flexibility to construct homes according to their requirements.

Developers are also looking at plotted projects as a way to enter markets where large land parcels are available, without undertaking construction of apartment buildings. The format allows developers to sell individual plots in phases, while buyers can decide the timing and design of construction, subject to applicable regulations.

Several developers have been exploring plotted development opportunities as part of their residential portfolios, particularly in locations on the outskirts of major cities, attracting institutional capital and investments from real estate funds into land acquisition and development projects.