Mahindra Lifespaces acquires land in Pune for ₹3,500 crore development
Mahindra Lifespace Developers announced the acquisition of land in Nande-Mahalunge area of Pune with estimated development potential of approximately 13.46 acres. ₹3,500 crore was said in the stock exchange filing on Friday.
Vimalendra Singh, Business Head, Housing, Mahindra Lifespace Developers, said Nande-Mahalunge area is one of Pune’s most promising micro markets and demand for high-quality, future-ready homes with modern amenities is on the rise. He added that the location offers excellent connectivity through the proposed PMRDA Town Planning Scheme and the upcoming Inner Ring Road, increasing access to the IT and BFSI hubs of Hinjewadi and Baner-Balewadi.
“This land parcel is strategically located within the well-planned Mahalunge micro market and offers excellent connectivity through the proposed PMRDA Town Planning Scheme and the upcoming Inner Ring Road alongside Hinjewadi. This acquisition strengthens our commitment to Pune and aligns with our strategy to strengthen our presence in the key growth corridors of the city,” Singh said.
strategic location
According to the official statement, the site is strategically located and provides quick access to Hinjewadi. It is surrounded by well-developed social infrastructure, including educational institutions such as Delhi Public School, Mahindra International School and Symbiosis Management Centre.
Established in 1994, Mahindra Lifespace has a development footprint spanning 49.26 million sq ft of completed, ongoing and upcoming residential projects across seven cities in India. The company is committed to building only Net Zero homes from 2030 onwards and has implemented India’s first three Net Zero housing projects.
The land seller is a third party and the transaction does not fall within the scope of related party transactions.
Disclaimer: This article was created using AI tools and has been editorially reviewed for clarity and consistency.
