Real estate developer Mahindra Lifespaces on October 13, 2023, announced that it has acquired a 5.38-acre land parcel in the neighbourhood of Wagholi in Pune. The land is estimated to have a development potential of over 1.5 million square foot (msf) of saleable area.
The site is situated in the East Pune locality, surrounded with social infrastructure that includes educational institutes such as Wellington College International, Euro School and Poddar International school. Moreover, this project is located near major commercial hubs, such as the World Trade Centre and EON Free Zone. Additionally, it enjoys close proximity to IT hubs in Viman Nagar, Magarpatta and Hadapsar.
Amit Kumar Sinha, managing director and CEO, Mahindra Lifespace, said, “Wagholi is a high potential micro-market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed. The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting robust social amenities and civic infrastructure. This land acquisition reaffirms our commitment to Pune and is aligned with our strategy to further solidify our presence in the city’s pivotal micro-markets.”
