Mahindra Lifespace Developers has entered into a joint development agreement (JDA) for a 5-acre residential project in Mumbai Metropolitan Region. MD & CEO, Arvind Subramanian, informed that the land parcel in Dahisar East is strategically located on the Western Express Highway. It is the first project in Dahisar with approximately 5 lakh square feet of carpet area.
The Mumbai Metropolitan Region is a priority market for growth in its residential business and Dahisar is one of the most attractive residential destinations in the city, owing to good road-rail connectivity and well-developed social and civic infrastructure. Three upcoming metro lines will further enhance its accessibility and attractiveness for home buyers. The company's entry into Dahisar is in line with its focus on high-performing micro-markets with strong demand for projects by trusted brands. The company has tasted success with this strategy and will continue to expand its residential footprint in the well-established suburbs with a track record of quick absorption. The company's development footprint spans 27.4 million square feet of completed, ongoing, and forthcoming residential projects across seven Indian cities. It also has over 5,000 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations.