Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development business of the Mahindra Group, has transferred 9.24 acres of residential land to Alliance Group proposed to be developed as a multi-storey residential project under their brand, Urban Rise, as per an exchange filing.
The land is part of Mahindra World City (MWC), Chennai and the development will be executed by Alliance Group.
This project will be an addition to Mahindra World City’s existing residential and commercial offerings.
MWC Chennai is already home to 2500 families spread across multi-format residential options ranging from value to the premium segment.
Amit Sinha, Director and Board member, Mahindra Lifespaces Developers Limited, said, “We are excited to welcome Alliance Group into the Mahindra World City. MWC Chennai is an integrated city with a thriving industrial zone combined with social amenities including a school, a hospital, a retail zone, multiple hotels, and a premium club. The proposed development will add to the offerings of MWC Chennai, and further strengthen the value proposition of this integrated city.”
