Mahindra Lifespaces acquires land in Pune for ₹3,500 crore development

In a stock exchange filing on Friday, Mahindra Lifespace Developers announced the purchase of 13.46 acres of land in Pune’s Nande-Mahalunge neighborhood, with an estimated ₹3500 crore in development potential.

According to Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers, the Nande-Mahalunge neighborhood is one of Pune’s most promising micromarkets, with a rising demand for premium, future-ready homes with contemporary facilities. According to him, the site provides good connectivity via the future Inner Ring Road and the projected PMRDA Town Planning Scheme, improving access to the IT and BFSI clusters of Hinjewadi and Baner-Balewadi.

“This land parcel is strategically located within the well-planned Mahalunge micromarket, offering excellent connectivity through the proposed PMRDA Town Planning Scheme and the upcoming Inner Ring Road, next to Hinjewadi. The acquisition reinforces our commitment to Pune and aligns with our strategy to strengthen our presence across the city’s key growth corridors,” Singh said.

The official statement claims that the location is well-located and provides easy access to Hinjewadi. It is encircled by a sophisticated social infrastructure, which includes educational facilities like the Symbiosis Center for Management, Delhi Public School, and Mahindra International School.

With 49.26 million square feet of finished, ongoing, and planned residential buildings spread across seven Indian cities, Mahindra Lifespace was founded in 1994. The business has started the first three Net Zero residential developments in India and is dedicated to creating only Net Zero homes starting in 2030.

The transaction does not fall under the purview of related party transactions because the land seller is a third party.