Mumbai-based, listed real estate developer, Mahindra Lifespace Developers Ltd, announced on October 11 that it has acquired 13.46 acres of land in the Nande-Mahalunge area near Pune. The land is estimated to yield a development potential of ₹3500 crore.
According to the company, the site is located and offers quick access to Hinjewadi, surrounded by well-developed social infrastructure that includes top educational institutes.
Moreover, the location is also equidistant from Baner-Balewadi and Hinjewadi micro markets, which are IT and BFSI hubs of Pune, the company said in the statement.
“Mahalunge-Nande-Maan are among Pune’s most promising micro-markets, having witnessed strong absorption over the past few years. There is a clear and growing demand for high-quality, future-ready homes with modern amenities in this region,” saod, Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers Ltd.
“This land parcel is strategically located within the well-planned Mahalunge micro-market, offering excellent connectivity through the proposed PMRDA Town Planning Scheme and the upcoming Inner Ring Road, next to Hinjewadi. The acquisition reinforces our commitment to Pune and aligns with our strategy to strengthen our presence across the city’s key growth corridors,” Singh said.
Mumbai project
The company announced on October 10 that it had been selected as the preferred partner for the redevelopment of four residential societies in the Malad West area of Mumbai. The company said that the project offers a development potential of ₹800 crore.
According to the company, the four societies are spread across approximately 1.65 acres.
According to the company, the project is situated 2.6 km from the Western Express Highway (WEH), and it provides connectivity to key areas of Mumbai via multiple transportation modes. It is conveniently situated less than 1 km from Malad West Metro Station and around 1.5 km from Malad Railway Station.