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.

With this partnership, KVN’s total tied-up residential development for FY 2025–26 has grown to approximately 4.4 million square feet, following its earlier joint development deal with Puravankara Group announced in May 2025, which covers 3.4 million square feet.

Structured under a Development Management Agreement (DMA), KVN will handle all project-related expenses, including land acquisition and construction costs, while Assetz Group will oversee the project as the Development Manager.

“As we scale to 10 million square feet this fiscal, our goal remains clear, create exceptional living spaces in high-growth corridors with the right partners and a disciplined investment approach,” says Venkat K Narayana, Promoter, KVN Property LLP.

“North Bangalore is a high-growth corridor with a discerning buyer base. This project also marks the beginning of what we believe will be a successful, multi-project collaboration across Bengaluru,” says Sunil Pareek, Executive Director, Assetz Pvt Ltd. 

The partnership between KVN Properties and Assetz Group marks a significant milestone in North Bengaluru’s residential real estate landscape. With a ₹1,000 crore investment and a strategic development model, the project not only strengthens KVN’s presence in the region but also reflects growing investor confidence in Bengaluru’s premium housing market.