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Mahindra Lifespaces® Buys 9.4 acres Land in Bengaluru, Development Value Rs 1.7k cr

New Delhi, March 12, 2024: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced the acquisition of 9.4 acres of land in Whitefield, Bengaluru. The land will have ~1.2 million square feet of FSI potential and a Gross Development Value of ~ INR 1700 crore, primarily comprising mid-premium residential apartments, mentions a press release issued by the company.

Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “Bengaluru continues to remain a focus market for us, and we are excited to expand our footprint within the city. This aligns with our strategy to deepen our presence in India’s thriving urban centers, particularly within our focus markets. We remain committed to delivering top-notch projects that resonate with the dynamic demands of Bengaluru’s home buyers, who have demonstrated their willingness to appreciate and buy high-quality projects.”

Mahindra Lifespaces expects to launch the first phase of the project within the next twelve months.