Mahindra Lifespace Developers acquires 2 acre land at Whitefield, Bengaluru

Mahindra Lifespace Developers on Wednesday, March 27, said it has acquired 2 acre land at Whitefiled in east Bengaluru. The land has a developing potential of around 0.2 million square feet of saleable area and a gross development value of approximately ₹225 crore, which will mainly comprise mid-premium residential apartments.

The company's managing director and CEO Amit Kumar Sinha said the acquisition marks another significant step in the firm's strategy of expanding its footprint in key micro markets. "The city's strong market potential makes it a strategic choice for our continued growth," he said.

The location offers seamless connectivity to commercial offices and tech parks and social infrastructure including healthcare facilities, education institutes and retail options, the company said in a stock exchange filing. It added that the neighbourhood has premium residential communities, educational institutions, shopping malls and a plethora of entertainment venues.