Mahindra Lifesapce's JV firm buys land at Thane in Maharashtra

Realty firm Mahindra Lifespace on Tuesday said its joint venture has acquired land in Thane, Maharashtra, that has the potential to develop housing projects comprising over 8 lakh sq ft.

In a filing to the BSE, the company said Mahindra Happinest Developers Ltd has executed a conveyance deed with the landowners for the acquisition of a land parcel situated in the Mumbai Metropolitan Region at Village Ranjnoli, Taluka Bhiwandi, District Thane having a residential development potential of up to 0.84 million sq ft.

Mahindra Happinest Developer is a joint venture between HDFC Capital Affordable Real Estate Fund -1 and a subsidiary of Mahindra Lifespace.