Realty firm Mahindra Lifespace Developers Ltd has transferred a 9.24-acre land to Alliance Group for development of a housing project. The land parcel is proposed to be developed as a multi-storey residential project under brand Urban Rise. The land is part of Mahindra World City (MWC), Chennai and the development will be executed by Alliance Group. This project will be an addition to Mahindra World City's existing residential and commercial offerings.
MWC Chennai is already home to 2,500 families spread across multi-format residential options ranging from value to the premium segment. Amit Sinha, director and board member, Mahindra Lifespaces Developers, said, "MWC Chennai is an integrated city with a thriving industrial zone combined with social amenities including a school, a hospital, a retail zone, multiple hotels, and a premium club."
The proposed development will add to the offerings of MWC Chennai, and further strengthen the value proposition of this integrated city, he added. Established in 1994, Mahindra Lifespace Developers Ltd's development footprint spans 32.97 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities. It has over 5,000 acres of ongoing and forthcoming projects under development / management at its integrated developments/industrial clusters across four locations.