Mahindra and Arch have recently concluded a commercial transaction to buyback Arch’s stake in Mahindra Residential Developers (MRDL). Pursuant to this, Mahindra Residential Developers is now a 100% Mahindra Company.
Mahindra Residential Developers, a subsidiary of MLDL, is developing a premium residential offering at Chennai. The first phase of the project is already completed and handed over to customers and the balance phases are under development. Over 65% of the villas and around 40% of the apartments have already been taken up and sales and development continues to be in full swing.
Mahindra Lifespace Developers (MLDL) is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.