Mahindra Lifespaces cancels Joint Venture of 4.8 acre Dahisar land

Mahindra Lifespaces cancels Joint Venture of 4.8 acre Dahisar land

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9 month(s) ago

Mahindra Lifespaces Cancels Dahisar Project, Faces Penalty for Air Pollution Violation. Mahindra Lifespaces has scrapped its plans for a joint development project on a 4.8-acre land parcel in Dahisar, Mumbai. Mahindra Lifespaces cancels Joint venture deal in Dahisar, Mumbai.

  • Reason for Cancellation: Significant delays in fulfilling certain regulatory clearances and approvals.
  • Project Details (announced in Oct 2021):
    • Location: Dahisar East, Mumbai
    • Size: ~5 lakh sq ft of carpet area

Separate Regulatory Filing:

Mahindra Lifespaces also received a penalty notice of Rs 4.6 lakh from Pimpri Chinchwad Municipal Corporation for alleged non-compliance with air pollution control regulations at a construction site (location not specified in the report).

Previous Announcement:

In October 2021, Mahindra Lifespaces announced finalizing terms for this project, which was expected to contribute significantly to their Mumbai residential portfolio.

Overall:

This news highlights the challenges faced by developers due to delays in obtaining clearances and the importance of adhering to environmental regulations at construction sites.

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in

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