Mumbai: Lloyds Realty Plans ₹1,935-Crore Cluster Redevelopment Project In Goregaon West With 771 Homes

Mumbai, September 1, 2026: A private developer named Lloyds Realty, a subsidiary of Lloyds Enterprises, plans to invest Rs 1,935 crore through its associate company in a cluster redevelopment project involving five housing societies in Mahesh Nagar, Goregaon West.

The project, located along S.V. Road, will bring the five societies under a single development plan. Development agreements have been signed with the societies, while the statutory and regulatory approval process has commenced, the company said.

The predominantly residential project will have a total 7,54,260 sq ft of RERA area and is planned to deliver 771 residential units. Of these, 461 will be rehabilitation homes for existing residents, while 310 units will be developed for sale in the open market.

The overall construction area is expected to be around 30 lakh sq ft. The redevelopment plan also includes 10 rehabilitation shops for existing commercial occupants.

Project Brings Five Societies Together

Ravi Agarwal, Chairman and Managing Director of Lloyds Realty, said the project brings together five societies in a single development framework, allowing the fragmented parcels to be planned as one precinct.

“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 Rs 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,” Agarwal said.

Lloyds Realty’s Redevelopment Portfolio

The company said the Mahesh Nagar project will add to its redevelopment portfolio in established Mumbai neighbourhoods. Lloyds Realty, formerly known as Aristo Realty Developers Ltd., has been involved in Mumbai's redevelopment sector for more than three decades, including cluster redevelopment and MHADA-linked projects.

Also Watch:

Its ongoing portfolio includes projects such as The Nilayam in Goregaon West and Solace in Dadar West. According to the company, it has approximately 14 million sq ft of planned residential and commercial development across Mumbai, Thane and Pune and other cities.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/