Mumbai: Lloyds Realty, one of Mumbai’s leading real estate developers and a subsidiary of Lloyds Enterprises, today announced a planned investment of ₹1,935 crore through its associate company in a large-scale cluster redevelopment project at Mahesh Nagar, Goregaon (W), on S.V. Road. Bringing five housing societies under a single integrated development plan, the project marks a significant addition to the company’s growing redevelopment portfolio in Mumbai.
Spread across 7,54,260 RERA sq. ft., the predominantly residential development will deliver 771 units, comprising 461 rehabilitation homes for existing residents and 310 free-sale units for the open market. Total construction area is expected to be approximately 30 lakh sq. ft. The plan also includes 10 rehabilitation shops for existing commercial occupants. Development Agreements (DAs) have been signed with the societies.
Commenting on the development, Ravi Agarwal, Chairman & Managing Director, Lloyds Realty, said: “Mahesh Nagar brings together three elements that are increasingly relevant to Mumbai’s residential market — a well-established location, fragmented land parcels and a sizeable rehabilitation requirement. Bringing five societies into a single development framework creates the scale to plan the precinct more cohesively, while also enabling existing residents to remain part of the neighbourhood they have called home. With 771 residential units and a planned investment of ₹1,935 crore, the project represents a meaningful addition to Mumbai’s redevelopment pipeline and reflects the potential that well-executed cluster redevelopment can unlock in established micro-markets. Statutory and regulatory approvals for the project have commenced.”
For Lloyds Realty, the project adds scale to its redevelopment portfolio and reinforces its focus on opportunities across Mumbai’s established micro-markets. The company has experience across residential and commercial developments as well as redevelopment-led projects, with completed assets including Pearl Residency, Lloyds Garden, The Square and The Qube.