Mahindra's puts money on a new land near Tech Parks & Malls in Whitefield

A prominent Indian Real Estate & Infrastructure company based in Mumbai, Mahindra Lifespace Developers announced that the group has purchased 2 acre land in Whitefield, East Bengaluru. 

The purchased land has an increasing potential of about 0.2 million square feet of profitable area & a gross development value of roughly Rs. 225 crore, which is mainly projected to include mid-level premium residential apartments. 

Speaking to this acquirement, the Managing Director & CEO at Mahindra Lifespace, Amit Kumar Sinha says that this purchase of land in Whitefield marks a pivotal step towards the expansion strategy of the company & marking its presence in the micro-markets.

According the stock exchange filing of the company, the locality & ambience of the land presents outstanding connectivity to the commercial workplaces, major tech-parks & social Infrastructure such as education institutions, hospital facilities & shopping options. 

Also it added that the neighbor zone of the land has a key premium residential apartments & communities, shopping malls & abundance of venues for entertainment & fun.

Previously in this month, the company has purchased 9.4 acre land at Whitefield, Bengaluru.  

As per the press release declared by the company shows that the purchased land will hold a 1.2 million square feet of FSI potential & a gross development value of Rs. 1,700 crore.