Chennai and Jaipur to be seed sites of Mahindra Lifespaces-Actis JV

Major stake of the joint venture's total investment is to be acquired by Actis. Over the initial years, total investment is to be estimated at Rs 2,200 crore including debt

The two Mahindra World Cities, Chennai and Jaipur, will be the seed sites to be acquired and developed by the Joint Venture platform in the initial stage, subject to requisite approvals. Both cities offer 100 acres of land with ready infrastructure and a built-up potential of over 2 mn sq ft, said Mahindra Lifespaces in its press release.

Mahindra lifespace developers, the real estate and infrastructure development arm of the Mahindra Group and Actis, is a leading global investor in sustainable infrastructure have entered into a joint venture for developing industrial and logistics real estate facilities across India.

Major stake