MUMBAI:
Mahindra Lifespace Developers, the real estate and
infrastructure development arm of the
Mahindra Group, has entered into an agreement to acquire around seven acres of land in
Pune.
The sale deed will be executed in due course, the company said in a release.
The company plans to develop a mid-segment residential project with development potential of arond 0.7 million sq ft on this land parcel.
The project falls within
Pimpri Chinchwad Municipal Corporation jurisdiction.
Mahindra Lifespace has, so far in this financial year, tied up three new projects with an estimated development potential of 2.1 million sq ft across Mumbai, Pune and Bangalore; and has a robust pipeline of land deals under negotiation, the release added.