Mahindra Lifespace Developers today announced its fifth housing project at the 1,500-acre integrated green township 'Mahindra World City' here.
The project 'Lakewoods' would have 747 apartments spread across 9.33 acres, Mahindra Lifespace said in a regulatory filing.
"Tamil Nadu Real Estate Regulatory Authority (TN RERA) approval has been obtained for the first phase of the project, consisting of 249 units," it said, adding that the project would be developed in three phases over a period of six years.
CEO Sangeeta Prasad said:"Mahindra World City(MWC) Chennai was envisioned as a sustainable model of urban development that would help both individuals and industries to thrive. It is heartening to see our vision evolving into reality and our fifth residential project Lakewoods marks an important milestone in the growth journey of MWC Chennai."
MWC Chennai spans about 1,500 acres and offers multi-format residential projects located within 285 acres of residential, social and retail infrastructure. It is India's first IGBC Gold (Stage 1) certified green township and home to corporate India's first operational SEZ, the company said.
Established in 1994, Mahindra Lifespace Developers is the real estate and infrastructure development business of the USD 20.7 billion Mahindra Group.
The company's development footprint spans 23 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities.
It is also developing 4,960 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters in four cities.
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