Mahindra Lifespaces acquires 9.4 acres land parcel in Whitefield, Bengaluru

The land will have around 1.2 million sq ft of FSI potential and a Gross Development Value of around ₹1700 crore, the company said.

Published on: Mar 12, 2024, 21:58:16 IST

By HT News Desk

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Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced the acquisition of 9.4 acres of land in Whitefield, Bengaluru, the company said.

The land will have around 1.2 million sq ft of FSI potential and a Gross Development Value of around ₹1700 crore, primarily comprising mid-premium residential apartments, the company said.

Also Read: Godrej Properties to develop township project in Bengaluru with a revenue potential of ₹5000 crore

Mahindra Lifespaces expects to launch the first phase of the project within the next 12 months, it said.

“Bengaluru continues to remain a focus market for us, and we are excited to expand our footprint within the city. This aligns with our strategy to deepen our presence in India's thriving urban centers, particularly within our focus markets,” said Amit Kumar Sinha, Managing Director and CEO, Mahindra Lifespace Developers Ltd.

Also Read: Bengaluru real estate: 70% realty assets in the city developed through joint development agreements

The site is located in Whitefield in Bengaluru and offers access to tech parks, commercial spaces, and well-developed social infrastructure, including educational institutes, healthcare facilities, and retail. It is also located close to the Whitefield Hope Farm Metro station, that offers connectivity to central and south Bengaluru.

Also Read: Surviving Bengaluru: 5 things to know before renting an apartment in the garden city

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