New Delhi: Realty firm Mahindra Lifespace Developers has acquired a 15-acre land parcel in Mumbai to develop a housing project with an estimated revenue of Rs 5,600 crore.In a regulatory filing on Friday, the company said the land parcel is located at Kandivali East, Mumbai.The project has an estimated revenue potential of Rs 5,600 crore and development potential of around 1.8 million square feet.Also Read: Mumbai redevelopment projects gather steam as cluster-led developments gain tractionThe land has been acquired through a competitive bidding process, the company said, but did not disclose the bid value.Established in 1994, Mahindra Lifespace Developers' development footprint spans 53.65 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities.It also has over 5,000 acres of ongoing and forthcoming projects under development/ management at its integrated developments/ industrial clusters across four locations.
Mahindra Lifespaces buys 15-acre land in Mumbai to build Rs 5,600 cr housing project
Mahindra Lifespace Developers has secured a prime 15-acre plot in Mumbai's Kandivali East, paving the way for a massive housing project. This development is projected to generate an impressive Rs 5,600 crore in revenue and will span approximately 1.8 million square feet. The acquisition, made through a competitive bid, marks a significant expansion for the realty firm, which boasts a substantial development footprint across India.
TL;DRAI
Mahindra Lifespaces acquires 15-acre Mumbai land for Rs 5,600 cr residential project (1.8M sq ft development potential). Reflects consolidating redevelopment trend in India's IT hub; indicates real estate strength for infrastructure-focused capital deployment.
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