Urbanrise acquires land parcel from Mahindra Life Spaces

Urbanrise intends to build around 2,000 plus units; work will commence in August and the units will be priced between ₹45 lakh and ₹90 lakh

March 31, 2023 06:10 pm | Updated 06:10 pm IST - CHENNAI

Urbanrise, an Alliance Group Company, has acquired 9.24 acres of land parcel from Mahindra Life Spaces.

The company will be developing 2 million sq. ft of high-rise apartment at Mahindra World City, earmarking an investment of ₹700 crore. The firm intends to build around 2,000 plus units and will be commencing construction work in August. The project is expected to be completed by 2026. The units will be priced from ₹45 lakh and will go up to ₹90 lakh.

Commenting on this land acquisition, Manoj Namburu – Chairman and Managing Director of Urbanrise, said: “Urbanrise has projects on all major neighborhoods in and around Chennai and with this new project, we will reach out to the homebuying community in and around Mahindra World City on the G.S.T. Road.”

The new residential community will house futuristic and innovative amenities and is expected generate a top line of ₹1,200 crore.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.