NEW DELHI: Mahindra Lifespace Developers (MLDL) through its subsidiary Anthurium Developers (ADL), has acquired 8.2 acres of land in North Bengaluru.
The land has a developable potential of approximately 0.9 million sq ft of saleable area and a projected gross development value (GDV) of almost Rs 1,000 crore.
Amit Kumar Sinha, managing director & CEO of the company said, “Bengaluru is a strategic market for us, and this will be our seventh project in the city.”
The project will offer mid-premium residential apartments. The company plans to launch the project within the next nine months.
In Novermber 2024, Mahindra World City Developers (MWCDL), a subsidiary of the company, in partnership with Sumitomo Corporation, Japan, had announced the second phase of their industrial parks project in Tamil Nadu.
This supplemental agreement involved an investment of approximately Rs 225 crore by MWCDL and Sumitomo Corporation in Mahindra Industrial Park Chennai (MIPCL), in proportion of their existing shareholding. This new phase also plans to focus on the acquisition and development of land and associated infrastructure.
