Mahindra Lifespace Developers Ltd is in the process of acquiring around 4,000 acres in Chennai and Pune, where it intends to set up two more business parks, a top official said.The company is acquiring around 1,000 acres of land in Chennai and around 3,000 acres in Pune.

A business park is a township with office spaces. The firm, part of the diversified Mahindra Group, specialises in both the residential housing and commercial development segments. It already has two business parks of about 4,000 acres under its commercial segment.

The parks are operated under the brand Mahindra World City’, at Chennai and Jaipur. Mahindra Lifespace is also looking to tap the recovering residential housing market by launching new projects in two tier-1 cities.It focuses on the mid market and premium residential customer segments. It already operates housing projects in Mumbai, National Capital Region (spanning New Delhi and adjoining areas), Pune and Chennai.