Mahindra Lifespace Secures 8.2 Acres for Rs 1000 Crore Bengaluru Housing Project
Mahindra Lifespace Developers Ltd has acquired 8.2 acres in North Bengaluru to develop a mid-premium residential project worth Rs 1,000 crore. The project is expected to be launched within nine months, adding to the company's growing portfolio in the city
Mahindra LifespaceBengaluru Real EstateHousing ProjectReal Estate DevelopmentNorth BengaluruReal Estate NewsJan 23, 2025
The project will feature mid-premium residential apartments and is expected to launch within the next nine months.
In a regulatory filing, Mahindra Lifespace did not disclose the deal value or the name of the seller.
The company stated that the land has a developable potential of approximately 0.9 million (9 lakh) square feet of saleable area, with a projected Gross Development Value (GDV) of nearly Rs 1,000 crore.
Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers Ltd, highlighted the strategic importance of Bengaluru for the company.
He said, 'Bengaluru is a key market for us, and this acquisition will be our seventh project in the city.'
Given the project's proximity to the international airport and major tech parks, Sinha believes that North Bengaluru will be a significant micro-market with a strong demand for well-planned, high-quality homes.
'This location offers excellent connectivity and infrastructure, making it an ideal choice for potential homebuyers,' he added.
Mahindra Lifespace's development footprint currently spans 38.49 million (384.9 lakh) square feet of completed, ongoing, and forthcoming residential projects across seven Indian cities.
The company also manages over 5,000 acres of ongoing and forthcoming projects at its integrated developments and industrial clusters across four locations.
The new project in North Bengaluru is expected to further solidify Mahindra Lifespace's position in the rapidly growing real estate market of the city.
With a focus on mid-premium residential apartments, the project aims to cater to the growing demand for quality housing in the tech hub of India.
Frequently Asked Questions
What is the value of the new project by Mahindra Lifespace in Bengaluru?
The new project by Mahindra Lifespace in North Bengaluru is valued at approximately Rs 1,000 crore.
How much land has Mahindra Lifespace acquired for the Bengaluru project?
Mahindra Lifespace has acquired 8.2 acres of land in North Bengaluru for the new housing project.
What type of residential units will the project feature?
The project will primarily feature mid-premium residential apartments.
When is the project expected to be launched?
Mahindra Lifespace plans to launch the project within the next nine months.
How many projects does Mahindra Lifespace currently have in Bengaluru?
This new project will be Mahindra Lifespace's seventh project in Bengaluru.
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