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Mahindra Lifespaces Development sells 9.24 acre of land to Urban Rise
The Mahindra Group's real estate and infrastructure development company, Mahindra Lifespaces Developers (MLDL), has sold Urban Rise, Alliance Group, 9.24 acre of residential land.
The site is a part of Chennai's Mahindra World City (MWC), and Alliance Group will handle the development. The cost of an acre of land in Chengalpattu ranges from Rs 35 million to Rs 50 million.
MWC Chennai is an integrated city with a vibrant industrial zone paired with social amenities like a school, a hospital, a retail zone, numerous hotels, and a premium club.
The proposed construction will increase MWC Chennai's product options and enhance the value of this integrated metropolis.
The project will be constructed under Alliance Group's Urban Rise brand and is on a permanent lease.
The proposed project will enhance the current residential and business options in Mahindra World City. 2500 families have already moved into MWC Chennai's multi-format residential alternatives, which range from the value to the premium category.
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