Mahindra Lifespaces, a real estate developer, on March 29 announced that its subsidiary Mahindra World City (MWC) has transferred 9.24 acres of land to Alliance Group for the development of a multi-storey residential project in Chennai.
The project will be executed under Alliance Group's Urban Rise brand. MWC Chennai is an integrated city with an industrial zone and various social amenities, and the proposed development will add to its offerings.
This project will be an addition to Mahindra World City’s existing residential and commercial offerings. MWC Chennai already houses 2500 families in multi-format residential options.
Mahindra Lifespace Developers was also selected as the preferred partner to redevelop two adjacent residential societies in Santacruz West, Mumbai, with a revenue potential of Rs 500 crore.
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