Mahindra Lifespace Expands with New Pune Acquisition

Mahindra Lifespace Developers Ltd, a prominent real estate player, has expanded its portfolio by acquiring a 13.46-acre parcel in Pune for a significant housing project valued at Rs 3,500 crore.

The company, part of the larger Mahindra Group, announced on Friday that it secured the land in the upscale Nande-Mahalunge neighborhood, but did not disclose the seller or the deal's financial details. The new project aims to harness substantial development potential.

In addition, Mahindra Lifespace will redevelop four housing societies in Mumbai's Malad (West), projecting an Rs 800 crore revenue from the sale of free areas within the project.

(With inputs from agencies.)