The real estate arm of Mahindra Group, Mahindra Lifespaces Developers have recently invested Rs. 472 crore to purchase a land parcel in Gurgaon. According to the sources, the company bought the land parcel from India’s one of the renowned and biggest private equity funds, Ireo.The land parcel on which the project will be developed would be a joint venture of this real estate arm with Standard Chartered Real estate which is a chain of Standard Chartered Bank. Mahindra Lifespaces in the previous year entered into a joint venture with SCM Real Estate, investment division of StandardChartered Bank for housing project development in India. These companies will be developing projects with Watsonia Developers where SCM and Mahindra Lifespaces will be holding equal stakes. The designing of this premium residential project is completed; approvals are still to be acquired. The company did not reveal about the financial details.According to one of the reputed property consultant, the present condition is favorable for residential development as the housing needs are growing each day in every city. Hence residential sector has a tremendous potential for growth.The two project of Mahindra Lifespaces with Watsonia Developers will be supreme residential projects developed in Bangalore and Gurgaon respectively. This company has already marked its existence in 9 cities with 1.3 million sq ft area of ongoing and upcoming projects. This also includes the company’s joint venture projects in Gurgaon and Bangalore of total 1.55 million sq ft.займ на карту без отказов круглосуточновзять кредит онлайн