Mahindra Lifespace Acquires 9-Acre Land in Bengaluru for ₹199 Cr, Eyes ₹2,100 Cr Project Potential

The north Bengaluru plot spans almost nine acres and costs Rs 199 crore, to that end, Rs 199 cr marks a strategic extension of its presence into one of the fastest-growing real estate corridors of the city.

The real estate arm of the Mahindra Group officially executed a Share Purchase Agreement (SPA) to fully acquire Shreyas Stones Pvt Ltd (SSPL), which owns an 8.79-acre plot at Navaratna Agrahara Village. It enters into the contract, buying all the 10,000 equity shares of SSPL, each with a face value of ₹10.

The transaction will open up a premium residential development opportunity estimated at a Gross Development Value (GDV) of ₹1100 crore. The newly-acquired site now adjoins a pre-existing Mahindra Lifespace property, enabling the company to plan for a fully compounded development of ₹2,100 crore in GDV.

According to Amit Kumar Sinha, MD and CEO of Mahindra Lifespace Developers, With this acquisition, we are majorly strengthening our positioning in North Bengaluru. “This presents us with a unique opportunity to scale up in a high-growth micro-market, and build a quality residential ecosystem”.

Mahindra Lifespace has been buying land to provide homes to the growing population in recent years. The company has a cumulative operational and potential saleable area development footprint of 47.56 million sq ft in residential projects spread across seven Indian cities immediately after the deal. It also manages 5,000 acres of integrated developments as well as industrial clusters across four sites.

This aligns with the vision of Mahindra Lifespace to strengthen high-potential urban hubs as well as leverage strong demand for housing and improve infrastructure in Bengaluru.

It manages across four sites including cities an aggregate of over 5,000 acres of integrated development as well as industrial cluster development.

The Mahindra Lifespace vision, this will strengthen high-potential urban centers leverage significant housing demand and improve infrastructure in the city of Bengaluru.