In a regulatory submitting, the corporate, which is a part of enterprise conglomerate Mahindra Group, knowledgeable that it had purchased 9.4 acres of land at Whitefield in Bengaluru.
The land may have round 1.2 million (12 lakh) sq. ft of FSI potential and a gross improvement worth of about ₹1,700 crore, primarily comprising mid-premium residential residences, it added.
Mahindra Lifespace Builders Managing Director & CEO Amit Kumar Sinha stated, “Bengaluru continues to stay a spotlight marketplace for us, and we’re excited to increase our footprint inside the metropolis. This aligns with our technique to deepen our presence in India’s thriving city centres, significantly inside our focus markets”.
He stated the corporate is dedicated to delivering top-notch initiatives that resonate with the dynamic calls for of Bengaluru’s house patrons, who’ve demonstrated willingness to understand and purchase high-quality initiatives.
Mahindra Lifespaces expects to launch the mission’s first part inside the subsequent twelve months.
The corporate’s improvement footprint spans 35.06 million sq. ft of accomplished, ongoing and forthcoming residential initiatives throughout seven Indian cities. It has over 5,000 acres of ongoing and upcoming initiatives beneath improvement/administration at its built-in developments/industrial clusters throughout 4 places.
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