Mahindra Group acquires a 9.4-acre plot in Whitefield

To launch initial phase of project within 12 months

Project has development potential of 1.2 million square feet

Mahindra Lifespace Developers, the real estate and infrastructure development division of the Mahindra Group, has completed the acquisition of a 9.4-acre plot in the Whitefield area of Bengaluru.

This parcel of land offers a significant development potential of approximately 1.2 million square feet with an estimated gross development value of Rs 1,700 crore, primarily comprising mid-premium residential apartments, according to the company.

“Bengaluru remains a focal point for our operations. This acquisition is in line with our objective to expand our presence in India’s vibrant urban hubs, particularly those within our targeted markets,” reportedly stated Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers.

The Whitefield site boasts convenient access to technology parks, commercial establishments, and essential social infrastructure, such as educational institutions, healthcare facilities, and retail outlets in close proximity.

Mahindra Lifespaces anticipates launching the initial phase of the project within the coming 12 months.

Sinha also disclosed that the company aims to establish a portfolio of projects valued at over Rs 45,000 crore as part of its strategy to achieve a fivefold increase in pre-sales over the next five years.