Acquisitions23 Jan 2025, 06:27 pm
Mahindra Lifespaces Acquires 8.2-Acre Land Parcel in North Bengaluru with INR 1,000 Crore GDV
AI Summary
Mahindra Lifespace Developers Limited (MLDL) announced the acquisition of 8.2 acres of land in North Bengaluru through its subsidiary Anthurium Developers Ltd (ADL). The land has a developable potential of approximately 0.9 million square feet of saleable area and a projected Gross Development Value (GDV) of almost INR 1,000 crore. The project will primarily feature mid-premium residential apartments. The site is strategically located off the Bangalore-Hyderabad Highway with proximity to the international airport, IT hubs, commercial offices, and a growing social infrastructure. Mahindra Lifespaces plans to launch the project within the next nine months, further strengthening its position in Bengaluru's real estate market.
Key Highlights
- Mahindra Lifespace Developers Limited (MLDL) acquired 8.2 acres of land in North Bengaluru through its subsidiary Anthurium Developers Ltd (ADL).
- The land has a developable potential of approximately 0.9 million square feet of saleable area and a projected Gross Development Value (GDV) of almost INR 1,000 crore.
- The project will primarily feature mid-premium residential apartments catering to the rising demand for quality housing in Bengaluru.
- The site is strategically located off the Bangalore-Hyderabad Highway, with proximity to the international airport, IT hubs, commercial offices, and a growing social infrastructure.
- Mahindra Lifespaces plans to launch the project within the next nine months, further strengthening its position in Bengaluru's real estate market.