Real Estate
Goregaon Gets ₹1,935-Crore Redevelopment Push
Lloyds Realty is undertaking a ₹1,935-crore cluster redevelopment project in Goregaon West covering five housing societies in Mahesh Nagar. Spread across 7.54 lakh sq ft, the project will have around 30 lakh sq ft of construction and 771 homes, including 461 rehabilitation and 310 free-sale units, along with 10 rehabilitation shops.
The project highlights the growing shift towards large-scale cluster redevelopment in Mumbai's western suburbs.
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Lloyds Realty is set to undertake a ₹1,935-crore cluster redevelopment project in Goregaon West, bringing five housing societies in Mahesh Nagar under a single redevelopment plan.
The project covers approximately 7.54 lakh sq ft of land and is planned with around 30 lakh sq ft of construction. It will comprise 771 residential units, including 461 rehabilitation homes and 310 free-sale units, along with 10 rehabilitation shops.
The project brings five societies together under one redevelopment plan, allowing the land parcels to be planned as an integrated development rather than through separate society-level projects. This approach could enable more coordinated use of land and supporting infrastructure.
Lloyds Realty expects the project to generate revenue of around ₹3,320 crore. Development agreements have been signed, while the required statutory and regulatory approval process has commenced.
Located along S.V. Road, the project adds to the redevelopment activity underway in Goregaon West, where larger redevelopment projects are reshaping established residential areas.
Of the 771 homes planned, 461 will form the rehabilitation component for existing residents, while 310 will be part of the free-sale inventory.
The scale of the project — covering 7.54 lakh sq ft of land and nearly 30 lakh sq ft of construction — underlines the growing importance of cluster redevelopment in Mumbai's western suburbs.
Editorial Insight | Signature Media News
The key point is not only the ₹1,935-crore investment but the decision to bring five housing societies under one redevelopment plan. Cluster redevelopment can address the limitations of fragmented, society-by-society development by allowing multiple adjoining parcels to be planned together. For Mumbai's established suburbs, this model could become increasingly relevant as developers look at larger and more integrated redevelopment opportunities while existing residents remain a central part of the rehabilitation process.
Sources: Official statements, regulatory filings, government documents, company disclosures and credible media reports.
The project covers approximately 7.54 lakh sq ft of land and is planned with around 30 lakh sq ft of construction. It will comprise 771 residential units, including 461 rehabilitation homes and 310 free-sale units, along with 10 rehabilitation shops.
The project brings five societies together under one redevelopment plan, allowing the land parcels to be planned as an integrated development rather than through separate society-level projects. This approach could enable more coordinated use of land and supporting infrastructure.
Lloyds Realty expects the project to generate revenue of around ₹3,320 crore. Development agreements have been signed, while the required statutory and regulatory approval process has commenced.
Located along S.V. Road, the project adds to the redevelopment activity underway in Goregaon West, where larger redevelopment projects are reshaping established residential areas.
Of the 771 homes planned, 461 will form the rehabilitation component for existing residents, while 310 will be part of the free-sale inventory.
The scale of the project — covering 7.54 lakh sq ft of land and nearly 30 lakh sq ft of construction — underlines the growing importance of cluster redevelopment in Mumbai's western suburbs.
Editorial Insight | Signature Media News
The key point is not only the ₹1,935-crore investment but the decision to bring five housing societies under one redevelopment plan. Cluster redevelopment can address the limitations of fragmented, society-by-society development by allowing multiple adjoining parcels to be planned together. For Mumbai's established suburbs, this model could become increasingly relevant as developers look at larger and more integrated redevelopment opportunities while existing residents remain a central part of the rehabilitation process.
Sources: Official statements, regulatory filings, government documents, company disclosures and credible media reports.
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