Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the USD 20.7 billion Mahindra Group, today announced that as part of its pursuit to acquire land for business growth, the Company has executed an agreement to acquire approximately seven acres of land in Pune. 

The sale deed will be executed in due course. The company plans to develop a mid-segment residential project with development potential of approximately 0.7 million square feet. The project falls within Pimpri Chinchwad Municipal Corporation jurisdiction.

The company has, so far in this fiscal, tied up three new projects with estimated development potential of 2.1 million square feet across Mumbai, Pune and Bangalore; and has a robust pipeline of land deals under negotiation.