Realty firm Mahindra Lifespace Developers Ltd on Thursday (October 12) said it has acquired a 5.38-acre land parcel in the sought-after locale of Wagholi, Pune.
This strategic acquisition holds the potential for over 1.5 million square feet of saleable area, marking a promising development in the real estate landscape.
Wagholi, an upscale area in east Pune, offers an ideal setting for this venture, as it boasts a well-established social infrastructure.
Amit Kumar Sinha, Managing Director and CEO of Mahindra Lifespace Developers, said Wagholi is a high-potential micro market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed.
"The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting robust social amenities and civic infrastructure. This land acquisition reaffirms our commitment to Pune and is aligned with our strategy to further solidify our presence in the city's pivotal micro-markets," Sinha added.
Among the many conveniences in the vicinity are renowned educational institutions like Wellington College International, Euro School, and Poddar International School, catering to the educational needs of residents.
Further, major commercial centres, including the prestigious World Trade Centre and EON Free Zone, are situated nearby.
Shares of Mahindra Lifespace Developers Ltd ended at ₹523.50, down by ₹4.55, or 0.86 percent, on the BSE.
