The Mahindra group has decided to intensify its focus on special economic zones (SEZs) and real estate to take advantage of the improved sentiments witnessed in the sector across the country.
The group is going ahead with its planned SEZ in Rajasthan, besides increasing focus on residential developments and integrated mega cities in southern and western India.
Mahindra Lifespace Developers, which leads the groups foray in this business, recently achieved a milestone of almost 5.8 million sq ft, comprising business cities and green homes spread over 2,000 acres.
At Mahindra World City New Chennai, the industrial area has been completely leased out. We are now looking to acquire land for the next phase here, said Arun Nanda, president of infrastructure development, Mahindra and Mahindra (M&).
The industrial areas of the Mahindra World city comprises an infotech/IT enabled services special economic zone (SEZ), an automobile SEZ and an apparel SEZ, in addition to an earmarked domestic tariff area. Tamil Nadu Industrial Development Corporation holds 11 per cent stake in Mahindra World City Developers, Chennai, while the balance is split between M&M and Mahindra Lifespace Developers.
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