Mahindra Lifespaces buys Mumbai land for project

Realty firm Mahindra Lifespace Developers has acquired a 15-acre land parcel in Mumbai to develop a housing project with an estimated revenue of Rs 5,600 crore. In a regulatory filing on Friday, the company said the land parcel is located at Kandivali East, Mumbai.

The project has an estimated revenue potential of Rs 5,600 crore and development potential of around 1.8 million square feet. The land has been acquired through a competitive bidding process, the company said, but did not disclose the bid value.