Mahindra Lifespaces forays into plotted development; to start in Chennai

Realty firm Mahindra Lifespaces Developers Ltd on Monday announced its foray into plotted developments and launched first project in Chennai to sell plots to customers in a 19-acre project.

The company has come up with first plotted development project 'Lakefront Estates by Mahindra' at Mahindra World City (MWC), Chennai, it said in a regulatory filing.

Spread over 19 acres, the project will offer a wide range of plots meeting the customers' needs and aspirations, with sizes up to 5,000 square feet.

Mahindra Lifespace, the real estate and infrastructure development business of the Mahindra Group, did not share detail about the cost of this project, number of plots being offered as well as the selling price and the estimated sales realisation from this project.

Mahindra Lifespace development footprint spans 33.58 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities. It has over 5,000 acres of ongoing and forthcoming projects under development/ management at its integrated developments/ industrial clusters across four locations.

MWC Chennai, which is spread over 1,500 acres, is a IGBC 'Gold' Certified township and operational corporate Special Economic Zone (SEZ).