Mahindra Lifespace Developers has finalised the terms to purchase approximately 3.2 acres of land in Pimpri, Pune, from Mahindra & Mahindra. The purchase is expected to be concluded in around six months, subject to the fulfillment of agreed conditions by both buyer and seller.
The land parcel is strategically located in the residential area of Nehru Nagar. This new project will offer approximately 3.25 lakh sq. ft. of carpet area. When it is launched, this will be Mahindra Lifespaces' fourth residential project in the micro market. Its last project in that market, Mahindra Centralis, was sold out at launch in 2019.
Mahindra Lifespace Developers is the real estate and infrastructure development business of the $19 billion Mahindra Group, and a pioneer of sustainable urbanization in India.
