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– The land holds ~1.2 million sq. ft. development potential
Bengaluru, 12th March 2024 – 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 land will have ~1.2 million square feet of FSI potential and a Gross Development Value of ~ INR 1700 crore, primarily comprising mid-premium residential apartments.
Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., 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. We remain committed to delivering top-notch projects that resonate with the dynamic demands of Bengaluru’s home buyers, who have demonstrated their willingness to appreciate and buy high-quality projects.”
The site is in the vibrant hub of Whitefield in Bengaluru, offering access to tech parks, commercial spaces, and well-developed social infrastructure, including educational institutes, healthcare facilities, and retail in proximity. Additionally, the land is close to the Whitefield Hope Farm Metro station, which offers excellent connectivity to central and south Bengaluru.
Mahindra Lifespaces expects to launch the first phase of the project within the next twelve months.