PUNE: Mahindra Lifespace Developers  has acquired land of approximately 5.38 acres situated in Wagholi, Pune.

This land has saleable area potential of approximately 1.5 million sq ft for residential development, the builder informed in a regulatory filing.

"This land acquisition reaffirms our commitment to Pune and is aligned with our strategy to further solidify our presence in the city's pivotal micro-markets," Amit Kumar Sinha", managing director & CEO of the company.

Im July 2023, the company had informed that it plans to invest Rs 85 crore in a plotted development project - Lakefront Estates situated at Mahindra World City (MWC), Chennai.

Spread over 19 acres, total revenue from the project is expected to be about Rs 150 crore and will offer 282 plots with sizes up to 5,000 sq. ft. Possession of the project is expected to be in March 2025.