 "Mahindra Lifespace buys 5.38 acre land in Pune to build realty project")
Realty firm Mahindra Lifespace Developers Ltd has acquired 5.38 acre land at Wagholi in Pune to develop a real estate project.
The land is estimated to have a development potential of over 1.5 million square feet of saleable area, the company said in a regulatory filing on Thursday.
Mahindra Lifespace did not disclose the deal value and name of the seller.
"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," Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers Ltd, said.
This land acquisition is aligned with the company's strategy to further solidify its presence in the city's pivotal micro-markets, he added.
Mahindra Lifespace Developers is one of the leading real estate firms in the country.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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