Mahindra Lifespaces joins forces with Landowner for Bhandup project

19 Oct 2023 CW Team

A vast 37-acre expanse in Bhandup, one of Mumbai's largest land holdings, previously owned by the now-defunct engineering firm Guest Keen Williams (GKW), is set to undergo a joint development venture between the landowner, industrialist K K Bangur, and the real estate company Mahindra Lifespaces.

The project, which will encompass a mix of residential, retail, and office spaces, has been valued between Rs 80 billion and Rs 110 billion, according to an insider familiar with the deal. Despite its prime location near the railway station and LBS Marg, the property struggled to find a buyer at its initial price of Rs 25 billion. After unsuccessful attempts to sell it outright, Bangur opted for a joint development agreement with Mahindra Lifespaces.

Although Amit Hariani, Chairman of Mahindra Lifespaces, declined to comment, sources confirmed that a term sheet for the joint development had been recently signed. The developer made a substantial deposit to the owner and will have the opportunity to sell approximately 40 lakh sq ft of carpet area. The current market price in Bhandup stands at around Rs 22,000-24,000/sq ft.

The project's completion is expected to take eight to ten years. Under the agreement, the owner will receive a share of the profits, while the developer will handle obtaining permissions, cover construction costs, and pay premiums. Moreover, provisions have been made for public amenities, including a park, municipal school, playground, and cultural theatre on the premises.

It's worth noting that in 2005, GKW had sold a portion of the Bhandup plot, approximately 22 acres, to the Neptune Group for Rs 920 million.

Infrastructure Energy

03 Dec 2025

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..

ABB India Unveils ACS380-E Drive for High-Performance Automation

ABB India has launched the ACS380-E drive, a next-generation machinery drive designed for automation-centric machine building, adding to its all-compatible drive portfolio. The solution simplifies machine integration and is future-proofed for industrial automation with advanced connectivity, faster commissioning and built-in cybersecurity capabilities.The ACS380-E features integrated dual Ethernet ports for plug-and-play communication with all major industrial automation networks, eliminating the need for separate modules and reducing installation complexity. The drive also supports fast USB-C..

Cement Makers Positive on H2 Demand Outlook

The leading cement producers have posted high single-digit volume growth and better sales realisation in the July–September quarter, setting a positive tone for the second half of FY26. Companies are upbeat on demand prospects, supported by a strong housing sector and continued government spending on major infrastructure projects. UltraTech, Ambuja Cement, Shree Cement, Dalmia Bharat and Nuvoco Vistas recorded revenue growth of up to 18 per cent in the September quarter. The rise was driven by firm realisations, softer input costs and an increased share of premium products. With coal price..