Lloyds Realty Plans ₹1,935 Crore Goregaon West Redevelopment Project With 771 New Homes

Cluster redevelopment in Mahesh Nagar will combine five housing societies and create rehabilitation homes along with new units for sale

Lloyds Realty is planning a major cluster redevelopment project in Mahesh Nagar, Goregaon West, with a proposed investment of ₹1,935 crore. The project will bring five housing societies together under one development plan and is expected to create 771 residential homes.

The project is being undertaken through an associate company of Lloyds Realty, a subsidiary of Lloyds Enterprises. Located along S.V. Road, the redevelopment will cover around 7,54,260 square feet of RERA area.

Development agreements have already been signed with the five housing societies, while the required statutory and regulatory approval process is now underway.

771 Homes Planned Under Goregaon West Redevelopment

The proposed project will include 771 residential units. Of these, 461 homes will be provided as rehabilitation units for existing residents, while 310 homes will be developed for sale in the open market.

The overall construction area is expected to reach around 30 lakh square feet. The plan will also include 10 rehabilitation shops for existing commercial occupants.

By bringing the five societies into one development framework, the project aims to make better use of the fragmented land parcels while creating a more organized residential neighborhood.

Mahesh Nagar Project Combines Five Housing Societies

According to Ravi Agarwal, Chairman and Managing Director of Lloyds Realty, the Mahesh Nagar redevelopment brings together an established location, multiple fragmented land parcels and a significant rehabilitation requirement.

He said developing the five societies as one precinct will allow the area to be planned in a more coordinated manner. The approach will also help existing residents continue living in the neighborhood while supporting new residential development.

With an investment of ₹1,935 crore and 771 planned homes, the project is expected to become a significant addition to Mumbai's redevelopment pipeline. The company has also confirmed that statutory and regulatory approvals for the project have commenced.

Lloyds Realty Expands Mumbai Redevelopment Portfolio

The Mahesh Nagar project will further strengthen Lloyds Realty's presence in Mumbai's redevelopment market. The company, formerly known as Aristo Realty Developers Ltd., has more than three decades of experience in redevelopment projects across the city.

Its portfolio includes cluster redevelopment and MHADA-linked projects, along with ongoing developments such as The Nilayam in Goregaon West and Solace in Dadar West.

The company said it currently has about 14 million square feet of planned residential and commercial development across Mumbai, Thane, Pune and other cities.

Goregaon West Set for Further Residential Development

The ₹1,935 crore Mahesh Nagar project reflects the growing focus on cluster redevelopment in established parts of Mumbai. By combining multiple societies into a single project, Lloyds Realty plans to create rehabilitation housing for existing residents while adding new homes to the city's housing supply.

The project is now moving through the statutory and regulatory approval process, with further development expected after the required permissions are secured.