homereal estate NewsPotential sales value for Kalyan Project is seen at Rs 600 crore: Mahindra Lifespace
Potential sales value for Kalyan Project is seen at Rs 600 crore: Mahindra Lifespace
Mahindra Lifespace has added a new residential project in Kalyan near Mumbai. The company has entered into an agreement for sale for 10.3 acres of land. In an interview with CNBC-TV18, Arvind Subramanian, MD and CEO of Mahindra Lifespaces said that the project could have about Rs 600 crore of potential sales value.
Mahindra Lifespace has added a new residential project in Kalyan near Mumbai. The company has entered into an agreement for sale for 10.3 acres of land.
In an interview with CNBC-TV18, Arvind Subramanian, MD and CEO of Mahindra Lifespaces said that the project could have about Rs 600 crore of potential sales value.
Overall, the company will be spending close to Rs 400 crore between land and construction cost for this project, he added.
“This recent land acquisition happens to be in very closed proximity to an extremely successful project that we launched in November of 2019. Kalyan project will have about 7 lakh square feet of carpet area, it is a residential project with some convenience retail in it and we expect to be able to launch this project within the next financial year,” Subramanian said in the interview.
He expects this project to be complete in 4-4.50 years of launching.
"So if we are able to launch it within the Calendar Year, I would suspect we should be able to complete the project and deliver it to customers about 4 years after that,” he stated.
For full management commentary, watch the video
(Edited by : Pranati Deva)
First Published: Mar 30, 2021 2:12 PM IST
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