Mahindra Lifespace Developers has signed a deal to buy all shares of Shreyas Stones.

This deal gives Mahindra Lifespaces new land to build on, with a total project value of about Rs 1,100 crore.

Amit Kumar Sinha, the company’s MD & CEO, said this helps them grow in North Bengaluru, a fast-growing area. The new land is next to their current land, so they can now build a bigger, better project worth about Rs 2,100 crore in total.

The land is close to the Bengaluru-Hyderabad Highway and the airport, and well-connected to schools, offices, hospitals, shops, and a planned metro line. Shreyas Stones owns about 8.79 acres in this area, which is becoming very popular with home buyers.