Real estate developer Nirmal Lifestyle is planning to develop 20 townships under the brand name “Lifestyle City” across India in the next 12 years. Nirmal Lifestyle group is famous for its mall in Mulund, an eastern suburb of Mumbai.

The company has already identified Mumbai (two locations), Pune, Indore and Panvel as the first five locations to develop the townships. Each Lifestyle City will be spread across 300-1000 acres and will be featuring the best-known brands in the fields of leisure, hospitality, sports and shopping.

Nirmal is currently developing a 3 million sq ft shopping mall in Mumbai and a 1,080-room hotel project, jointly with French company Accor. It also plans to raise $500-$800 million from private equity funds.

Leading foreign and Indian institutions including Lehman Brothers, Deutsche Bank, Goldman Sachs, ICICI Venture and HDFC Realty are already in talks with Nirmal Lifestyle to buy a stake in some of its property projects.