Mahindra Lifespace, the real estate arm of the Mahindra group, launched its fifth residential project, Lakewoods, within the precincts of the Mahindra World City (MWC) on the outskirts of the city.
The project has nine 14-storey towers spread over 9.33 acres with 747 two- and three-bedroom apartments with amenities such as swimming pool, indoor gym, multipurpose hall, open spaces and reticulated gas supply. Phase I of the Lakewood project, consisting of three towers and 249 units will be ready for handover by 2022. The three-phase project will be completed over a period of six years.
“Our fifth residential project Lakewoods marks an important milestone in the growth journey of MWC Chennai,” said Sangeeta Prasad, CEO, Mahindra Lifespace Developers Ltd. Spread over 1,500 acres, MWC is a public-private partnership between Mahindra Lifespace and Tamil Nadu Industrial Development Corporation(TIDCO), which is divided into three business zones– special economic zone(SEZ) for IT companies, auto ancillaries and apparels zone, and a domestic tariff area. MWC Chennai currently houses about 65 business enterprises such as BMW, Infosys, Fujitec, and the TVS group of companies among others. “MWC Chennai is today home to more than 2,000 families, with daily footfalls of nearly a lakh across its business and social zones and represents an opportunity to be part of a thriving, future-focused community of residents and city stakeholders,” said P Vijayan, Business Head (Residential), Mahindra World City, Chennai.