Mahindra Lifespace Developers has acquired 7.89 acres of land to develop a residential project in Kanakpura Road, Bengaluru.
The project will offer approximately 5 lakh sq. ft. of carpet area. The launch of the project is planned for FY 2022. Kanakpura Road is a prominent residential hub in Bengaluru and one of the city's relatively greener areas.
Arvind Subramanian, Managing Director and Chief Executive Officer, Mahindra Lifespace Developers., said, Bengaluru is one of the most stable residential real estate markets in India and a priority city for the growth of our residential business.
The announcement was made after market hours yesterday, 25 February 2021. Shares of Mahindra Lifespace Developers gained 4.25% to settle at Rs 510.05 yesterday.
Established in 1994, Mahindra Lifespace Developers is the real estate and infrastructure development business of the $19.4 billion Mahindra Group, and a pioneer of sustainable urbanisation in India.
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