India, June 19 -- Listed real estate developer Mahindra Lifespace Developers Ltd has acquired a 15-acre land parcel in Mumbai's Kandivali East, where it plans to develop a housing project with a development potential of around 1.8 million sq ft. The project is expected to have a gross development value (GDV) of approximately Rs.5,600 crore.

"The project's accessibility is expected to be further enhanced by the upcoming Borivali-Thane Twin Tunnel, a landmark infrastructure initiative that is set to significantly reduce travel time between Mumbai's western suburbs and Thane, strengthening regional connectivity and supporting the area's long-term growth prospects," the company said in its statement.

"We are pleased to add this project to o...