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Mahindra Lifespace Developers Ltd has, through its wholly owned subsidiary Anthurium Developers Ltd, purchased 8.2 acres of land parcels in North Bengaluru, a part of the continued expansion of its footprint in the city.
The land parcel is to have a developable potential of around 0.9 million square feet of saleable area with an estimated gross development value (GDV) of approximately ₹1,000 crores
Speaking on the acquisition, Amit Kumar Sinha, Managing Director & CEO, of MLDL, said: “Bengaluru is a strategic market for us and this will be our seventh project in the city. The company would develop mid-premium residential apartments on the land and will launch the project within nine months.”.
This development now highlights Mahindra Lifespaces’ aim at delivering quality housing in the key urban centers. Bengaluru, known to have a large and burgeoning IT and real estate sector, is an essential market for the company.
Another subsidiary of MLDL, Mahindra World City Developers Ltd, in association with Sumitomo Corporation of Japan, announced its industrial park project in Tamil Nadu’s second phase last November 2024. It involves an investment of ₹225 crore in Mahindra Industrial Park Chennai Ltd, in proportion to the shareholding of partners.
The second leg of the industrial park project involved acquiring and developing more land and infrastructure to add to the already established presence for the company within the industrial and real estate sector.
With the North Bengaluru project, along with such initiatives as MIPCL, Mahindra Lifespaces strengthens its position within India’s landscape of real estate, delivering value both in residential as well as in industrial verticals.
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- 000 crore GDV project
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