Business

Mahindra Lifespaces buys 11.5 acres land in Pimpri for real estate development

Mahindra Lifespace Developers Ltd. said it had purchased 11.5 acres of land in the micro market of Pimpri, Pune, for an unspecified amount.

The land is estimated to have a developable potential of approximately 2 million square feet of saleable area and a gross development value of about ₹1,700 crore, the company said. 

Arvind Subramanian, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “Pimpri is one of the thriving hubs of Pune with a growing demand for high-quality residential and commercial spaces.”

“This latest land acquisition will be our fifth project in the micro-market. It comes on the heels of the acquisition of 3.26 acres that we concluded in March 2022, and signals our intent to deepen our presence in the locality,” he added.


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Printable version | May 13, 2022 6:13:32 pm | https://www.thehindu.com/business/mahindra-lifespaces-buys-115-acres-land-in-pimpri-for-real-estate-development/article65332699.ece