Lloyds Realty Associate Firm to Invest Rs 1,935 Crore in Goregaon Cluster Redevelopment Project
Mumbai, September 1, 2026: Real estate developer Lloyds Realty, a subsidiary of Lloyds Enterprises, has announced a planned investment of Rs 1,935 crore through an associate company for a large-scale cluster redevelopment project in Mahesh Nagar, Goregaon West, along S.V. Road. The project consolidates five existing housing societies into a single integrated development framework, marking an expansion of the firm’s urban renewal portfolio in Mumbai.
According to a press release, the development spans approximately 7,54,260 square feet of RERA carpet area, with a total construction footprint of roughly 30 lakh square feet. The project will deliver 771 residential units, comprising 461 rehabilitation homes for existing occupants and 310 free-sale units targeted at the open market. Additionally, the development plan includes 10 rehabilitation retail shops for existing commercial occupants. Development agreements have been formally executed with the participating societies.
Addressing the scope of the project, Ravi Agarwal, Chairman & Managing Director, Lloyds Realty, underscored the operational advantage of neighborhood-scale redevelopment. “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,” Agarwal said.
The project aligns with Lloyds Realty’s strategy of expanding its presence within high-density Mumbai micro-markets. The developer’s completed portfolio encompasses several residential, commercial, and redevelopment projects across the city, including Pearl Residency, Lloyds Garden, The Square, and The Qube.
