Mahindra Lifespace acquires land for new residential project in Kalyan
Mahindra Lifespace Developers has added a new residential project in Kalyan, a residential hub in Mumbai Metropolitan Area (MMR), by signing an agreement to acquire a land parcel of 10.3 acres.
The real estate and infrastructure development business of the Mahindra Group said that the residential project in Kalyan will provide nearly seven lakh sft of carpet area and is anticipated to be launched in FY 2022.
It is the second residential development in Kalyan for Mahindra Lifespace Developers after ‘Happinest Kalyan’.
Arvind Subramanian – Managing Director and CEO of Mahindra Lifespace Developers said: “The runaway success of our first residential project in Kalyan validates the growing demand for high quality, aspirational homes by trusted brands in this attractive suburb.
“Our latest land acquisition in Kalyan is aligned to our strategy of strengthening our presence in high-performing markets. We look forward to delivering our next outstanding project in Kalyan.”
Mahindra Lifespace Developers acquires land for new residential project in Kalyan. Photo courtesy of Baburaj B/Wikipedia.org.
According to Mahindra Lifespace Developers, Kalyan is a micromarket that is well-connected with the urban hub of Mumbai. The company’s latest project site is located on the Mumbai-Nashik Highway and near the proposed Rajnouli metro station on the Thane-Bhiwandi-Kalyan metro route.
The site for the new residential project in Kalyan is also near the planned 12-lane Virar-Alibaug multimodal corridor, which will give easy access to major highways like the Mumbai-Delhi Highway (NH-8), the Delhi-Mumbai-Bangalore Highway (NH-48), the Mumbai-Pune Expressway, and the Bhiwandi Bypass.