Mahindra World City (MWC) in Chennai is fast emerging a destination for residential space as the promoters offer built up residential space spanning the premium and luxury segment to the middle income housing.

The real estate development is by Mahindra Lifespace Developers.

MWC is a 1,500-acre industrial and commercial facility with three Special Economic Zones for IT and ITES, auto ancillary and apparel and fashion accessories. It also has a domestic tariff area and space for residential and commercial development to make it an integrated business city.

The project is promoted by the Mahindra Group and the Tamil Nadu Industrial Development Corporation, a state-run agency that facilitates industrial development. The facility is located about 50 km to the south of Chennai on NH45.

MWC will soon house over 60 companies – 40 are now in operation, mostly IT companies, employing over 30,000 people. It boasts a school; next year a Holiday Inn Hotel will start operations.

The Mahindra Group is rounding the township off with a range of residential projects for diverse segments. These are in advanced stages of development and many on the verge of being handed over to buyers, says Sangeeta Prasad, Chief Operating Officer.