Mahindra Lifespace to Invest Pune Housing Project

Mahindra Lifespace Developers Ltd will invest around Rs 500 crore to build a new housing project in Pune as it seeks to expand business amid strong rec

BY Realty Plus
Published - Tuesday, 23 Feb, 2021

Mahindra Lifespace to Invest Pune Housing Project

Mahindra Lifespace Developers Ltd will invest around Rs 500 crore to build a new housing project in Pune as it seeks to expand business amid strong recovery in residential real estate market. The company will develop more than 1,000 units in the project 'Happinest Tathawade', which is spread over nearly 7 acres of land. The project will be developed in two phases, with first one comprising over 600 apartments.The total project cost is Rs 500 crore, including land and construction, to be funded through a combination of internal accruals and construction finance from banks/NBFCs. The company expects around Rs 750 crore of sales revenue from this new project. He described Tathawade as one of the most sought-after residential destinations in Pune, being in close proximity to Hinjewadi, one of India's largest IT hubs. Mahindra Lifespaces has been present in Pune since 2007 and has completed 7 residential projects in Pune till date, all of which are sold out. The company currently has 1.53 million