Mahindra Lifespace Developers Limited, the real estate and infrastructure development arm of the Mahindra Group, on January 13, 2023, said it has purchased a 4.25-acre land parcel in Singasandra, South Bangalore. The land is estimated to have a developable potential of nearly 4.6 lakh square foot area and a gross development value of approximately Rs 400 crore. Mahindra Lifespace expects to launch the first phase of the project within 2023.
The site is located along the Hosur Road in close proximity with Electronics City.
Arvind Subramanian, Managing Director & CEO, Mahindra Lifespace, said, “Bangalore is a key growth market for our residential business, and we are happy to add this new project to our portfolio. This will be our third project in Bangalore and comes on the back of the overwhelming response to the launch of Mahindra Eden, India’s first Net Zero Energy residential project. This latest acquisition is aligned with our strategy of further strengthening our presence in India’s IT capital and deepening our presence in key micro markets there.”
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