Mahindra Lifespaces Developers, the real estate and infrastructure development arm of the Mahindra Group, recently announced acquiring an anticipated 9.4 Acres of land parcel in Bangalore’s Whitefield. The company plans to develop mid-premium residential apartments on this land.
The land has a development potential of approximately 1.2 Mn SqFt and has a gross development value of INR 1,700 Crore. Mahindra Lifespaces plans to launch the first phase of this project within the next 12 months. The project will be close to tech parks, commercial zones, and social infrastructures such as educational institutes, healthcare facilities, and retail spaces.
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Mahindra Lifespaces is developing a pipeline of projects with a development value of more than INR 45,000 Crore as part of its strategy to achieve fivefold growth in pre-sales in the next five years. The upcoming project aligns with the company’s strategy to deepen its presence in India’s thriving urban centers, said Amit Kumar Sinha, Managing Director & CEO, of Mahindra Lifespace Developers.
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