Lloyds Realty plans ₹1,935 crore cluster redevelopment in Goregaon West

Five housing societies in Mahesh Nagar, Goregaon West, could be redeveloped together under a ₹1,935-crore plan proposed by Lloyds Realty through an associate company.

The project is planned along S.V. Road and would cover 7,54,260 sq ft of RERA area. Lloyds Realty said it has signed development agreements with the societies and is pursuing statutory and regulatory approvals.

The proposal includes 771 homes: 461 rehabilitation units for existing residents and 310 apartments for open-market sale. It also includes 10 rehabilitation shops for existing commercial occupants. The overall construction area is expected to be about 30 lakh sq ft.

Ravi Agarwal, chairman and managing director of Lloyds Realty, said bringing the five societies into a single framework would allow the fragmented parcels to be planned as one precinct while residents remain in the neighbourhood. The company has not stated a construction timeline.