Mahindra Lifespace Developers has lined up five new housing projects via joint ventures and partnerships fixing around 2 million sq. ft of development in cities like Mumbai, Pune and Chennai and all these projects will be launched this fiscal itself, chief executive officer and managing director, Anita Arjundas, said elaborating that the regulatory changes and delays in approvals had significantly slowed down new launches for several developers in India. Mumbai-based builders faced an additional hurdle after the Bombay high court banned new construction activities but since dumping ground and regulatory issues get resolved, the projects would soon get launched. Unlike in the past, the increasing trend of consolidation within the real estate market post the implementation of RERA has offered the company opportunities to form partnerships and expand its business in its four priority markets, Mumbai, Pune, Bengaluru and the National Capital Region (NCR). Mahindra Lifespace has signed MoUs for about 2.75 million square feet of developmental area that are in early stages of diligence.
