Mahindra Lifespaces Secures Prime Land in North Bengaluru for ₹1000-Crore Residential Project

Mahindra Lifespace Developers Limited, through its subsidiary Anthurium Developers Ltd, has acquired an 8.2-acre land parcel in North Bengaluru to develop a mid-premium residential housing project worth ₹1000 crore. The announcement, made on January 23, highlights the company’s strategic focus on Bengaluru as a key market for its ambitious growth plans.

The newly acquired land boasts a developable potential of approximately 0.9 million square feet of saleable area, with a projected Gross Development Value (GDV) of nearly ₹1000 crore. While Mahindra Lifespaces has not disclosed the deal's value or the seller’s name, the project is set to strengthen the company's foothold in the rapidly growing North Bengaluru region.

Located off the Bangalore-Hyderabad Highway, the site is just 1.8 kilometers from the upcoming Doddajala metro station and close to the Kempegowda International Airport. Its strategic location near major tech parks and infrastructure hubs makes it a promising investment in one of Bengaluru’s emerging micro-markets.

Amit Kumar Sinha, Managing Director and CEO of Mahindra Lifespace Developers, emphasized the importance of this acquisition: “Bengaluru is a strategic market for us, and this will be our seventh project in the city. Given the proximity to the international airport and major tech parks, we believe North Bengaluru will be a high-demand area for well-planned, high-quality homes.”

Mahindra Lifespaces plans to launch the project within the next nine months, catering to the mid-premium housing segment. This aligns with the company’s broader strategy of achieving ₹45,000 crore in revenue potential over the next five years. With a focus on key cities like Mumbai, Pune, and Bengaluru, Mahindra Lifespaces aims to hit pre-sales between ₹8,000 and ₹10,000 crore by FY28.

This acquisition follows the company’s significant milestones in recent months. In November, Mahindra Lifespaces entered into a joint development agreement with GKW Ltd for a 37-acre land parcel in Mumbai’s Bhandup area, with a development potential of 3.6 million square feet. The project is set to become one of the largest urban mixed-use developments for the company, focusing primarily on the residential segment while incorporating commercial and retail spaces.

In July 2024, Mahindra Lifespaces announced plans to rebrand itself as a premium housing company, doubling down on its presence in Mumbai, Pune, and Bengaluru. This acquisition in North Bengaluru serves as another step toward solidifying the company’s vision of delivering innovative, sustainable, and high-quality residential developments in India’s most promising urban markets.

With this bold expansion strategy, Mahindra Lifespaces continues to set benchmarks in the real estate industry, making it a key player in shaping modern urban living. Stay tuned as this exciting project unfolds and brings a new standard of living to North Bengaluru.