Mahindra To Develop Mahindra World City, near Chennai

Mahindra Lifespace Developers, the real estate company of the Rs 18,000 crore Mahindra group, has entered into a joint venture with private equity fund ARCH Capital Asian Partners to develop a residential township at the Mahindra group’s special economic zone, Mahindra World City, near Chennai.
The Mahindra group will have a 51 % stake in Mahindra Residential Development, the JV company and ARCH Capital will hold 49 %.
The project, on fifty acres, will have seven hundred fifty residential apartments apart from retail and recreational facilities. It did not disclose financial details, pending the announcement of its financial results.
Mahindra World City, being developed by the Mahindra group and the Tamil Nadu Industrial Development Corporation (TIDCO), has three sector-specific SEZs for information technology, auto ancillaries, and apparel & fashion accessories.
Mahindra Lifespace recently signed an agreement with the Board of Investments of Sri Lanka to develop a sixty five acre SEZ in Sri Lanka.
Mahindra Lifespace has a land bank of nearly five million sq ft and is developing two other Mahindra World Cities at Pune and Jaipur.

4 Comments

  1. Posted April 23, 2008 at 12:03 am | Permalink

    This is a major development and Chennai has a lot of demand for commercial space.

  2. Posted April 23, 2008 at 7:31 am | Permalink

    Chennai Property prices have been on a high throughout the last few years and they are expected to see an upward trend this year too. Chennai property prices saw an increase of about 8 – 15 % in the last few years. Recently, it went through the roof. With the Banks advancing easy Home Loans and the conducive atmosphere prevailing for rapid growth in the industrial sector contributed in no small way to the growth of the real estate sector of Chennai.For more view-realtydigest.blogspot.com

  3. PRAKASH PANCHAPAKESAN
    Posted October 18, 2008 at 6:37 am | Permalink

    Dear Sir,

    I am secretary of one of the flat owner assocaiation at Annanagar west ext, Chennai having 48 owners in a land measuring 25grounds on 100ft main road looking for a joint venture to demolish our housing board flat and build a new one. Pls keep in touch if you are interested in JV

    Regards,

    Prakash
    Mob- +91 98400 96088

  4. m.kumar
    Posted May 11, 2009 at 11:58 pm | Permalink

    Dear Sir ,
    I , am an real estate mediator but doing real dealings between the land owners and builders. I am intrested to make the deal pls send me the complete details of the site placed at and the main frontage on 100ft road. What is the ratio expected and advnc needed to each flat owners.

    Have you availed the NOC from the TNHB Office and are all the flat owners agreed with your opinion.

    I am expecting your feedback at the earliest and thus to start a good faithfull dealing.

    Thanks & Regards
    M.KUMAR NAIDU
    KK ASSOCIATES
    AVADI
    MOB : 09003252522
    09699135844

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