South India’s Largest Real Estate developer, Urbanrise, an Alliance Group Company announced that the company has acquired 9.24 acres of land parcel from Mahindra Life Spaces. The company is all primed to develop 2 million sq. ft of luxury high-rise apartment community at Mahindra World City, earmarking an investment of Rs 700 Crs. Designed following international standards of constructions, the new residential community will house futuristic and innovative amenities and is expected generate a top line of Rs.1,200 crores.
Commenting on this land acquisition Manoj Namburu – Chairman & Managing Director of Urbanrise said, “Urbanrise has projects on all major neighborhoods in and around Chennai city and with this new project we will reach out to the aspiring homebuying community in and around Mahindra World city on the GST road. We as an organization are extremely excited about this acquisition and are looking forward to developing a world –class residential community in the city”.
