MAHINDRA LIFESPACES NORTH BENGALURU (SHREYAS STONES) — New Project Coming Up in Devanahalli corridor, Bangalore
Acquisition Expands Mahindra Lifespaces' North Bengaluru Footprint
Mahindra Lifespace Developers signed a Share Purchase Agreement to acquire Shreyas Stones Private Limited (SSPL), which owns 8.79 acres of premium land in Navaratna Agrahara Village, North Bengaluru, announced on June 30, 2025. The acquisition valued at ₹199 crore acquired 10,000 equity shares with a face value of ₹10 each at a premium of ₹198,990 each.
Land and Development Potential
The acquisition unlocks an estimated Gross Development Value (GDV) of ₹1,100 crore for this parcel. Combined with Mahindra's adjoining land holdings, the company now has the opportunity to create a unified premium development with a combined GDV potential of approximately ₹2,100 crore. This follows an earlier acquisition announced in January 2025 of 8.2 acres of land through subsidiary Anthurium Developers Ltd, with a developable potential of approximately 0.9 million square feet of saleable area and a projected GDV of almost ₹1,000 crore.
Strategic Location and Connectivity
Located off the Bengaluru-Hyderabad Highway and in close proximity to Kempegowda International Airport, the site offers strong connectivity and strategic access to North Bengaluru's ecosystem. The micro-market is home to IT parks, commercial hubs, leading educational institutions, healthcare facilities, retail destinations, and is set to benefit from upcoming metro connectivity.
Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers, noted that Bengaluru is a strategic market and this is the company's seventh project in the city. Given the proximity to the international airport and major tech parks, he stated North Bengaluru will be an important micro-market with strong demand for well-planned, high-quality homes.
Devanahalli Corridor Growth
Devanahalli has transformed from a quiet agricultural town into North Bangalore's most dynamic real estate micro-market, powered by Kempegowda International Airport, a ₹2.5 billion Foxconn manufacturing facility, and Amazon India's corporate headquarters relocation, with a metro line now over 52% complete.
Infrastructure developments collectively represent investments exceeding ₹80,000 crores, positioning Devanahalli as Bangalore's next major growth corridor. The Blue Line metro to KIA Airport is targeted operational June 2027.
Developer Profile
Established in 1994, Mahindra Lifespace Developers Ltd brings the Mahindra Group's philosophy of 'Rise' to India's real estate and infrastructure industry. The company's development footprint spans 53.65 million sq. ft. (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5,000 acres of ongoing and forthcoming projects under development at integrated developments and industrial clusters across four locations.
Mahindra Lifespaces is one of the most disciplined large Indian developers with a clean balance sheet, a verifiable green-building track record, and a consistent handover delivery profile within 4 to 7 months of RERA dates. As a pioneer in Net Zero homes in India, Mahindra Lifespaces has already launched India's first three Net Zero residential developments.
Market Context
The project will primarily feature mid-premium residential apartments catering to the rising demand for quality housing in Bengaluru. Mahindra Lifespaces plans to launch the project within nine months from the January 2025 announcement date.