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News Topical, Digital Desk : Shares of Mahindra Lifespaces Developers, a realty company included in the BSE Smallcap Index, are expected to see action on Monday's session. The company made two major announcements after market close on Friday. The first announcement relates to a land acquisition in Pune, while the second relates to a redevelopment project in Mumbai. Both projects have a combined development potential of over ₹4,300 crore.
Land Acquisition in Pune:
Mahindra Lifespaces Developers has announced the acquisition of 13.46 acres of land in Pune. The Mahindra Group real estate company acquired the land in the Nande-Mahalunge area, located approximately 20 kilometers from the city center of Pune. According to the company, the land has a development potential of approximately ₹3,500 crore. The company added that the land is adjacent to several educational institutions and IT hubs.
Redevelopment Project Announced: After market hours on Friday, the real estate company announced that it had been selected to redevelop four residential societies in Malad (West), Mumbai. The project has an estimated development potential of approximately ₹800 crore. According to the company, the project spans approximately 1.65 acres and is located adjacent to Mahindra MLDL's ongoing redevelopment project, Codename 64.
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