Mahindra Lifespaces announces Joint Development of land parcel in Mumbai; Stock settles 2% up

Strategically located on the Western Express Highway, this is Mahindra Lifespaces’ first project in Dahisar and will offer approximately 5 lakh sq. ft. of carpet area.

Oct 27, 2021 04:10 IST India Infoline News Service

Mahindra Lifespace Developers on Wednesday finalised terms for joint development on a 4.8-acre land parcel in Dahisar East. Strategically located on the Western Express Highway, this is Mahindra Lifespaces’ first project in Dahisar and will offer approximately 5 lakh sq. ft. of carpet area.

Arvind Subramanian, MD & CEO, Mahindra Lifespace Developers Ltd., said, “The Mumbai Metropolitan Region is a priority market for growth in our residential business and Dahisar is one of the most attractive residential destinations in the city, owing to good road-rail connectivity and well-developed social and civic infrastructure. Three upcoming metro lines will further enhance its accessibility and attractiveness for families."

Subramanian added, "Our foray into Dahisar is in line with our focus on high performing micro-markets with strong demand for projects by trusted brands. We have seen success with this strategy and will continue to expand our residential business in well-established suburbs with a track record of quick absorption.”

On Sensex, Mahindra Lifespace finished at Rs281 per piece up 1.98%. 

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