Mahindra Lifespace Developers Ltd (MLDL), the real estate and infrastructure arm of $16.9 billion Mahindra Group, on Tuesday launched its Bengaluru opreations with the premium residential project Windchimes.
Located on 5.85 acres near the proposed Metro phase 2, IIM-Bengaluru and Hulimavu station, Windchimes offers three and four bedroom-hall-kitchen (BHK) residences in three sizes in two towers, a release said.
MLDL vice president (operations) Deepak Porayath said an investment of Rs.450 crore is earmarked for Windchimes while MLDL is looking at a revenue of Rs.700 crore from the project in the next four years.
As many as 400 units of three and four BHK residences priced between Rs.1.3-Rs.2.2 crore will be on offer, the release added.
Windchimes is a project of Mahindra Homes Pvt Ltd (MHPL), a joint venture between MLDL and SCM Real Estate (Singapore) Pvt Ltd, the investment arm of Standard Chartered Bank. Both MLDL and SCM hold an equal stake in the JV.
MLDL has residential and large format developments in nine Indian cities – Mumbai, Pune, Nagpur, Gurgaon, Faridabad, Jaipur, Chennai, Hyderabad and Bengaluru. (IANS)