Mahindra Lifespaces grows in Pune with 5.38 acres in Wagholi and plans for homes in Chennai.
Mahindra Lifespace Developers, a leading real estate player, has made a significant move in its expansion strategy by securing a huge 5.38-acre land parcel in the locale of Wagholi, Pune. This development opens up a world of possibilities for the company, with a potential saleable area of around 1.5 million square feet for residential development, as disclosed in their recent regulatory filing.
Amit Kumar Sinha, the Managing Director & CEO of Mahindra Lifespaces, remarked, “This land acquisition reaffirms our commitment to Pune and is aligned with our strategy to further solidify our presence in the city’s huge micro-markets.”
This move comes on their Rs 85 crore investment announcement for the Lakefront Estates, a huge development project in Mahindra World City (MWC), Chennai, in July 2023. Spanning a massive 19 acres, this project is expected to generate approximately Rs 150 crore in revenue, offering 282 plots, some of which can go up to 5,000 square feet. Anticipated possession for this exciting venture is decided for March 2025.