M Lifespace fixes stressed realty assets on radar

As part of its next phase of growth to strengthen its footprint in key geographies in India, Mahindra Lifespace Developers, the real estate arm of Mahindra Group, in a recent move has decided to acquire stressed real estate assets in affordable realty segment across key property markets, especially the Delhi-National Capital Region. The newest move would be in addition to the company's growth strategy to focus on both green field and stressed assets in mid-premium and affordable segment to cater to end users, the CEO Sangeeta Prasad, said adding that the company's focus is on primary markets like Mumbai, Pune and Bengaluru and secondary focus markets will be Hyderabad and Gurgaon. In this connection, the company has received a few proposals from the banks that have debt exposure to such projects and realty developers who are keen to restart their stuck projects with the help of the Mahindra brand. While Mahindra Lifespace is keen to enter this segment, the project’s legal status, financial obligation and homebuyers’ demands will be the key considerations before an association is finalized.