Mahindra Lifespace Developers is all set to purchase approximately 9.24 acres of land in Kandivali from Mahindra & Mahindra (M&M) for real estate development. This new project is Mahindra Lifespaces’ second residential development in Kandivali after it’s successful ‘Mahindra Roots’ project and will offer approximately 1 million sq. ft. of carpet area. The project is expected to be launched in FY 2023.
Mahindra Lifespace land parcel lies in the well-developed residential area of Akurli Road in Kandivali East. This neighbourhood is home to reputed schools and malls.
The Western Express Highway, the nearest metro station and Kandivali railway station are all located within a 4 KM radius of the project. Kandivali East enjoys convenient connectivity to employment hubs in Mira Road, Malad, Goregaon, Jogeshwari and Andheri.
The closing of the transaction, which has been approved by the Boards of M&M and Mahindra Lifespace Developers is subject to related-party approval from shareholders of Mahindra Lifespace Developers and other statutory approvals.
Mahindra Lifespace Developers is the real estate and infrastructure development company and a pioneer of sustainable urbanization in India.