Mahindra Lifespace to invest Rs. 450 cr in its maiden venture in Bengaluru.

Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development arm of Mahindra Group, recently announced expansion into Bengaluru's housing property market with its maiden project, Windchimes. The company is investing Rs. 450 crore on development of a property spread over 5.8 acres near Indian Institute of Management, Bangalore on Bannerghatta road.

'This is our first property in Bengaluru and we are looking at one more property in the city. After failing three times in our earlier attempts to venture into the city's property market, we have finalized on this project. Bengaluru is one of six focus markets for us in developing housing projects,' Anita Arjundas, Managing Director, Mahindra Lifespace Developers Ltd. said.

Windchimes is on the two projects funded by Mahindra Homes Pvt Ltd. (MHPL), a joint venture between Mahindra Lifespace Developers Limited and SCM Real Estate (Singapore) Private Limited, an investment arm of Standard Chartered Bank.

BS