 "Mahindra Lifespace buys 5.38 acre land in Pune to build realty project")
Realty firm Mahindra Lifespace Developers Ltd has acquired 5.38 acre land at Wagholi in Pune to develop a real estate project.
The land is estimated to have a development potential of over 1.5 million square feet of saleable area, the company said in a regulatory filing on Thursday.
Mahindra Lifespace did not disclose the deal value and name of the seller.
"Wagholi is a high potential micro market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed.
"The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting robust social amenities and civic infrastructure," Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers Ltd, said.
This land acquisition is aligned with the company's strategy to further solidify its presence in the city's pivotal micro-markets, he added.
Mahindra Lifespace Developers is one of the leading real estate firms in the country.
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