Mahindra Life plans to set up second township in Chennai

Mahindra Lifespace, the real estate arm of the diversified Mahindra Group, is planning to set up its second integrated city in Chennai. The project will attract an investment of around Rs 4,000 crore, including from the tenants who would occupy space inside the city, said a company's senior official.

Speaking to reporters here today, Sangeeta Prasad, chief executive officer, integrated cities and industrial business, Mahindra Lifespace Developers Ltd, said they were looking for land in the north part of Chennai for the proposed facility, which will have a domestic tariff area rather than a special economic zone.

The integrated city will target investors from engineering and manufacturing and create around 33,000 jobs, she said.

Mahindra Lifespace has pioneered the concept of integrated business city through Mahindra World City development in Chennai and Jaipur.