Mahindra Lifespace ventures into plotted development

Real Estate

Mahindra Lifespace Developers plans to launch plotted development projects and has multiple residential project launches in the pipeline. The Mumbai-based real estate developer plans to develop plotted projects within Mahindra World City in Chennai and is scouting for opportunities in suburban Mumbai and Pune. Reportedly branded plots, priced `3-7.5 mn and above, have found favour among buyers and investors even during the Covid lockdown, prompting developers to launch such projects. The advantages include quick monetization of land, faster sales of plots than apartments, better cash flow, and quicker exits compared to constructing housing projects. Mahindra Lifespace has around five project launches planned across Mumbai, Pune, Bengaluru and Chennai.