Mumbai-based real estate developer Lloyds Realty Developers, a subsidiary of Lloyds Enterprises, has announced a planned investment of ₹1,935 crore through its associate company in a cluster redevelopment project in Mumbai's Goregaon (West). According to reports from Business Standard, the project involves the redevelopment of five housing societies under a single integrated development plan, with the company eyeing revenue of ₹3,320 crore from the project. The project is specifically located in Mahesh Nagar, Goregaon (West) on S V Road.
The predominantly residential development will be spread across 754,260 square feet and will deliver 771 units, comprising 461 rehabilitation units for existing residents and 331 free-sale units for the open market. As reported by Business Standard, the total construction area to be delivered will be approximately 30 lakh square feet. The development plan also seeks to provide 10 rehabilitation shops for existing commercial occupants, with Lloyds Realty having signed development agreements with the societies.
According to Business Standard, the saleable area is priced at ₹44,000 per square foot, with statutory and regulatory approvals for the project having commenced. According to proptech platform 99acres, average property rates in Goregaon (West) stood at ₹32,600 per square foot as of August 2026, compared with ₹31,800 per square foot during the July-September period last year. Ravi Agarwal, chairman and managing director of Lloyds Realty, emphasized that the project represents a meaningful addition to Mumbai's redevelopment pipeline, stating that "with 771 residential units and a planned investment of ₹1,935 crore, the project reflects the potential that well-executed cluster redevelopment can unlock in established micro-markets."
As reported by Business Standard, Lloyds Realty currently has a portfolio valued at over ₹23,500 crore, spanning premium residential and commercial projects. The company has delivered over 3 million square feet and has approximately 14 million square feet of planned development in residential and commercial real estate across Mumbai, Thane, Pune and Tirupur. According to Agarwal, the project 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. The company has experience across residential and commercial developments as well as redevelopment-led projects, with its completed portfolio including projects such as Pearl Residency, Lloyds Garden, The Square and The Qube.
