Mumbai: In line with its plans to acquire land parcels in established micro markets, Mahindra Lifespace Developers Ltd. today announced a new residential project in Kalyan. The Company has entered into an agreement for sale for 10.3 acres. This new project will offer approximately seven lakh sq. ft. of carpet area and is expected to be launched in FY 2022. Mahindra Lifespaces’ second residential development in Kalyan after ‘Happinest Kalyan’, is one of the fastest-selling value housing projects in the micro market in 2019-20.
Arvind Subramanian, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “The runaway success of our first residential project in Kalyan validates the growing demand for high quality, aspirational homes by trusted brands in this attractive suburb. Our latest land acquisition in Kalyan is aligned with our strategy of strengthening our presence in high-performing markets. We look forward to delivering our next outstanding project in Kalyan.”
Kalyan is a well-developed, end user-driven residential hub in Mumbai Metropolitan Area (MMR). The micro market is well-connected with the urban hub of Mumbai and enjoys strong demand for quality residential projects by trusted brands. Mahindra Lifespaces’ latest project site is strategically located on the Mumbai-Nashik Highway and near the proposed Rajnouli metro station on the upcoming Thane-Bhiwandi-Kalyan metro route. The neighbourhood is home to reputed schools, colleges, business hubs, hospitals and markets. The site is also close to the planned 12-lane Virar-Alibaug multimodal corridor, which will provide easy access to important highways such as the Mumbai-Delhi Highway (NH-8), the Delhi-Mumbai-Bangalore Highway (NH-48), the Bhiwandi Bypass and the Mumbai-Pune Expressway.