Mahindra Lifespaces Obtains a 4 Acre Plus Plot Near Hosur Road in Singasandra, South Bengaluru

Mahindra Group's real estate and infrastructure development subsidiary, Mahindra Lifespace Developers, has acquired 4.25 acres of property in Singasandra, South Bengaluru.

As per the basic development calculations, this plot of land will have a development potential of roughly 4.6 Lakh square feet of saleable area and a gross development value of approximately INR 400 Crores. 

Mahindra Lifespace Developers plans to develop a luxury project in Hosur Road with this plot and this will be a luxury project with majorly luxury residential flats on offer.

Arvind Subramanian, managing director and chief executive officer of Mahindra Lifespace Developers, said,

"Bengaluru is a significant growth area for our residential company. This will be our third project in Bengaluru and follows the very positive reaction to the introduction of India's first Net Zero Energy residential property, Mahindra Eden. This new purchase is in line with our objective to develop and expand our footprint in India's IT hub and its important micromarkets."

This parcel of land in Singasandra will have a potential developable size of roughly 4.6 lakh square feet saleable area.

The land is ideally positioned very close to Hosur Road and provides access to a well-developed social infrastructure, including educational institutions, healthcare facilities, and retail corridors in South Bangalore. Electronic City and Koramangala being in its proximity adds to the location advantage further. This project will surely be a good one for an end-use homebuyer as well as a property investor in South Bangalore.

Mahindra Lifespaces anticipates the opening of the first phase of the project in 2023. The Hosur Road real estate market in Bangalore is rather robust, and the announcement of this acquisition by Mahindra Lifespace Developers will strengthen it further.