Construction Industry News
Mahindra Lifespaces Developers (MLDL), the Mahindra Group's real estate and infrastructure development company, has sold Urban Rise, Alliance Group, 9.24 acres of residential land.
The site is part of Chennai's Mahindra World City (MWC) and Alliance Group will take care of the development. The cost of one hectare of land in Chengalpattu ranges from Rs 35 million to Rs 50 million.
MWC Chennai is an integrated city with a lively industrial zone combined with social facilities such as a school, a hospital, a shopping zone, numerous hotels and a premium club.
The proposed construction will increase MWC Chennai's product options and increase the value of this integrated metropolis.
The project will be built under Alliance Group's Urban Rise brand and is on permanent lease.
The proposed project will improve current residential and business options in Mahindra World City. 2500 families have already moved to MWC Chennai's multi-format residential alternatives, which range from value to the premium category.
