The land is expected to have a net development value of more than $4 billion as well as a developable capacity of more than 4.6 lakh square feet, the majority of which would be used for luxury homes.
Bangalore is a key growth market for our residential business, thus we are happy to add this new venture to our portfolio. As per Arvind Subramanian, MD & CEO of Mahindra Lifespace Developers, the debut of our residential property Mahindra Eden received an incredibly enthusiastic response, and this development will be our third in Bangalore.
He asserts that this most recent acquisition is consistent with the company’s goal of improving the developer’s position in India’s information technology (IT) capital and expanding its footprint in the city’s significant micro markets.
The land parcel has easy access to adjacent social infrastructure, such as educational institutions, medical facilities, and shopping centres, and is conveniently located off Hosur Road. The biggest IT and electronics centre in India, Electronics City, is also close by.
The project’s first phase is scheduled to start construction in 2023, according to Mahindra Lifespace Developers.
