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Mahindra Lifespace inks agreement to jointly develop 5-acre housing project in Mumbai region

In a regulatory filing, the company informed that it has "finalised terms for a joint development on a 4.8-acre land parcel in Dahisar East."

Mahindra Lifespace Developers | The company board to consider, the proposal for issuance of bonus equity shares, subject to requisite approvals.

Mahindra Lifespace Developers | The company board to consider, the proposal for issuance of bonus equity shares, subject to requisite approvals.

 
 
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Mahindra Lifespace Developers on Wednesday said it has entered into a joint development agreement (JDA) for a nearly 5 acre residential project in Mumbai Metropolitan Region.

In a regulatory filing, the company informed that it has "finalised terms for a joint development on a 4.8-acre land parcel in Dahisar East."

Strategically located on the Western Express Highway, this is Mahindra Lifespace’s first project in Dahisar and will offer approximately 5 lakh square feet of carpet area.

Arvind Subramanian, MD and CEO, Mahindra Lifespace Developers, said, The Mumbai Metropolitan Region is a priority market for growth in our residential business and Dahisar is one of the most attractive residential destinations in the city, owing to good road-rail connectivity and well-developed social and civic infrastructure.”

Three upcoming metro lines will further enhance its accessibility and attractiveness for families, he added. "Our foray into Dahisar is in line with our focus on high-performing micro-markets with strong demand for projects by trusted brands. We have seen success with this strategy and will continue to expand our residential business in well-established suburbs with a track record of quick absorption," Subramanian said.

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Established in 1994, Mahindra Lifespace Developers’ development footprint spans 27.4 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities.

It also has over 5,000 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations.
PTI
first published: Oct 27, 2021 11:44 am

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