37 acre Mumbai plot deal may earn Rs 11,000 crore

Mahindra Lifespaces has entered into a joint development agreement with landowner K K Bangur to develop a 37-acre land parcel in Bhandup, Mumbai. The mixed-use project is estimated to be valued between Rs 8,000-11,000 crore and will include residential, retail, and office spaces. The developer will be able to sell approximately 40 lakh sqft of carpet area. The project is expected to take 8-10 years to complete and will include public amenities such as a park, school, playground, and theatre. This land parcel was previously sold to the Neptune Group in 2005.