+
Mahindra Lifespaces to buy 3.2 acre land from parent body in Pune
Real Estate

Mahindra Lifespaces to buy 3.2 acre land from parent body in Pune

Real estate firm Mahindra Lifespace Developers Ltd has finalised a deal to purchase a 3.2 acre land in Pimpri locality of Pune from parent company Mahindra & Mahindra as a part of its expansion plan.

The purchase is expected to be concluded in around six months, subject to the fulfilment of agreed conditions by both buyer and seller.

This new project will offer about 3.25 lakh square feet (sq ft) of carpet area. Following the project's proposed launch, it will be Mahindra Lifespaces’ fourth project in this micro-market. Its last project in that market, Mahindra Centralis, was sold out at launch in 2019.

The land parcel is around one km away from the upcoming metro station opposite the Pimpri-Chinchwad Municipal Corporation office.

Under its Integrated Cities and Industrial Clusters business, Mahindra Group has over 5,000 acre of ongoing and forthcoming projects under development and management at its integrated developments and industrial clusters across four locations in Pune, Chennai, Jaipur and Ahmedabad.

The company has already stated its plan to explore opportunities in development management agreements and brownfield developments that can be pursued for further growth.

Established in 1994, Mahindra Lifespace Developers Ltd is the real estate and infrastructure development business of the $19.4 billion Mahindra Group. The company's development footprint spans 25.7 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities.

Image Source


Also Read: Mahindra Lifespaces adds new residential project in Bengaluru

Also Read: Top 10 builders of India: Construction World

Real estate firm Mahindra Lifespace Developers Ltd has finalised a deal to purchase a 3.2 acre land in Pimpri locality of Pune from parent company Mahindra & Mahindra as a part of its expansion plan. The purchase is expected to be concluded in around six months, subject to the fulfilment of agreed conditions by both buyer and seller. This new project will offer about 3.25 lakh square feet (sq ft) of carpet area. Following the project's proposed launch, it will be Mahindra Lifespaces’ fourth project in this micro-market. Its last project in that market, Mahindra Centralis, was sold out at launch in 2019. The land parcel is around one km away from the upcoming metro station opposite the Pimpri-Chinchwad Municipal Corporation office. Under its Integrated Cities and Industrial Clusters business, Mahindra Group has over 5,000 acre of ongoing and forthcoming projects under development and management at its integrated developments and industrial clusters across four locations in Pune, Chennai, Jaipur and Ahmedabad. The company has already stated its plan to explore opportunities in development management agreements and brownfield developments that can be pursued for further growth. Established in 1994, Mahindra Lifespace Developers Ltd is the real estate and infrastructure development business of the $19.4 billion Mahindra Group. The company's development footprint spans 25.7 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities. Image SourceAlso Read: Mahindra Lifespaces adds new residential project in Bengaluru Also Read: Top 10 builders of India: Construction World

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code