Mahindra Lifespaces, GKW ink joint development pact for 37-acre in Mumbai’s Bhandup

Mahindra Lifesapce Developers, through its wholly-owned subsidiary ADL, has entered into a joint development agreement with GKW Ltd to develop a nearly 37-acre land parcel in Mumbai’s eastern suburb Bhandup.

The company is planning to undertake a mixed-use project with residential, commercial, and retail components on this land parcel.

As part of the agreement, ADL’s net revenue share from this proposed project will be 70.5% and the land owner GKW’s net revenue share will be 29.5%. The net revenue share may be revised depending on the achievement of milestones as per the joint development pact, the Mahindra Group company said in a regulatory filing.


The plot subject to reservations aggregates to the net area admeasuring over 1.04 lakh sq meter with a total net carpet area of over 3.63 lakh sq meters, for construction and development of the proposed mixed-use project.