Mahindra Lifespace acquires land in Chennai for biz city.

Mahindra Lifespace Developers Ltd., the realty arm of the Mahindra Group, has acquired around 550 acres of land in north Chennai for setting up its second integrated business city in the state-Mahindra World City.

The company expects to begin work on Phase I in the second half of this financial year and intends to acquire a total of around 650 acres for the project.

Sources involved in the project confirmed overall worth of the venture to be around Rs. 4,000 crore.

BS