Mahindra Lifespaces signs agreement to acquire 7-acre land parcel in Pune

Deepthi | Myequity news | Date : 07-02-2019 14:40:00 IST

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today announced that as part of its pursuit to acquire land for business growth, the Company has executed an agreement to acquire approximately seven acres of land in Pune. The sale deed will be executed in due course. The Company plans to develop a mid-segment residential project with development potential of approximately 0.7 million square feet. The project falls within Pimpri Chinchwad Municipal Corporation jurisdiction.

The Company has, so far in this fiscal, tied up three new projects with estimated development potential of 2.1 million square feet across Mumbai, Pune and Bangalore; and has a robust pipeline of land deals under negotiation.

About Mahindra Lifespace Developers Ltd,

Established in 1994, Mahindra Lifespace Developers Ltd. is the real estate and infrastructure development business of the Mahindra Group, and a pioneer of sustainable urbanisation in India. The Company is committed to transforming India's urban landscape through its residential developments under the 'Mahindra Lifespaces' and 'Happinest' brands; and through its integrated cities and industrial clusters under the 'Mahindra World City' and 'Origins by Mahindra World City' brands.

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