Urbanrise to develop 2 million Sq. ft of luxury high-rise apartment community at Mahindra World City; Acquires 9.24 acres from Mahindra Life Spaces
~Company to invest Rs 700 Crores in this project that has an estimated revenue potential of Rs. 1,200 Crores~
Chennai, 31st March, 2023 : South India’s Largest Real Estate developer, Urbanrise (an Alliance Group Compan y) today announced that the company has acquired 9.24 acres of land parcel from Mahindra Life Spaces. The co mpany is all primed to develop 2 million sq. ft of luxury high-rise apartment community at Mahindra World City, earmarking an investment of Rs 700 Crores. Designed following international standards of constructions, the n ew residential community will house futuristic and innovative amenities and is expected generate a top line of Rs.1,200 crores. 
Commenting on this land acquisition Mr. Manoj Namburu – Chairman & Man aging Director of Urbanrise said, “Urbanrise has projects on all major neighborh oods in and around Chennai city and with this new project we will reach out to the aspiring homebuying community in and around Mahindra World city on the GST road. We as an organization are extremely excited about this acquisition and are looking forward to developing a world –class residential community in the city”.
About Alliance Group and Urbanrise : Urbanrise/Alliance Group, South India’s Largest Real Estate Developer h as delivered over 7,500+ homes. The organization has 54 million Sq.Ft. of projects under development at vari ous stages and has a real estate portfolio of Rs.33,000 Crores. The Organization is backed & funded by the wor ld’s T opmost Financial Institutions.
