Real estate developer Mahindra Lifespace Developers Ltd has purchased a 13.46-acre land parcel in Pune to build a housing project valued at ₹3,500 crore.
In a regulatory filing on Friday, the company stated that it has acquired the land “in the premier neighbourhood of Nande-Mahalunge in Pune.”
A subsidiary of the Mahindra Group, the company did not reveal the seller’s identity or the transaction amount. However, it mentioned that the land offers a development potential of around ₹3,500 crore.
Additionally, on the same day, Mahindra Lifespace announced plans to redevelop four housing societies in Malad (West), Mumbai, with an expected revenue of ₹800 crore from the sale of free area in these projects.
The company added, “Spread across about 1.65 acre, the project offers a development potential of ₹800 crore.”
Currently, Mahindra Lifespace’s development portfolio covers 49.26 million square feet of completed, ongoing, and upcoming residential projects across seven cities in India. The company also manages over 5,000 acres of ongoing and planned projects within its integrated developments and industrial clusters across four locations.
