Mahindra Lifespaces acquires land in Pune for ₹3,500 crore development
The site is strategically located, offering quick access to Hinjewadi. It is surrounded by well-developed social infrastructure, including educational institutes such as Delhi Public School, Mahindra International School, and the Symbiosis Center for Management.
Mahindra Lifespace Developers has announced the acquisition of 13.46 acres of land in the Nande-Mahalunge area of Pune, with an estimated development potential of approximately ₹3500 crore, it said in a stock exchange filing on Friday.
The Nande-Mahalunge area is one of Pune’s most promising micro-markets, with a growing demand for high-quality, future-ready homes with modern amenities, said Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers. The location offers excellent connectivity through the proposed PMRDA Town Planning Scheme and the upcoming Inner Ring Road, enhancing access to the IT and BFSI hubs of Hinjewadi and Baner-Balewadi, he added.
“This land parcel is strategically located within the well-planned Mahalunge micromarket, 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.
Strategic location
According to the official statement, the site is strategically located, offering quick access to Hinjewadi. It is surrounded by well-developed social infrastructure, including educational institutes such as Delhi Public School, Mahindra International School, and the Symbiosis Center for Management.
Mahindra Lifespace, established in 1994, has a development footprint spanning 49.26 million square feet of completed, ongoing, and forthcoming residential projects across seven Indian cities. The company is committed to building only Net Zero homes from 2030 onwards and has launched India’s first three Net Zero residential developments.
The seller of the land is a third party, and the transaction does not fall under the ambit of related party transactions.
Disclaimer: This article was generated using AI tools and has undergone editorial review for clarity and coherence.
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