Mahindra Lifespace Developers Ltd, the realty arm of Mahindra Group, has acquired around 550 acres of land in the Northern Chennai to set up its second integrated Mahindra World City. As per the company officials, projects total investment will stretch around 4000 crore. They also claimed that they have acquired 550 acres at the moment, but the final intent will around 600-650 acres.
The proposed new facility will have Domestic Tariff Area and should create about 33,000 manufacturing & engineering jobs. Mahindra setup its first Mahindra World City in Mariamallai Nagar near Chennai 11 years ago and already has 63 large companies in the SEZ.
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