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Mahindra Lifespace Developers Ltd, the real estate and infrastructure development arm of the $16.5-billion Mahindra Group, has launched its first affordable housing project -Happinest - at Avadi, in the suburbs of Chennai.
Spread over 13 acres, it would offer one and two bedroom-hall-kitchen (BHK) apartments with sizes ranging from 396 sft to 677 sft, and could accommodate more than 1,200 families. It would be priced from Rs 9.9 lakh for a unit.
"With a high level of urbanisation and industrialisation, Chennai was a natural choice to meet the needs of a large, under-served customer base," said Anita Arjundas, managing director and CEO, Mahindra Lifespace Developers Ltd. The project's aim is to meet the housing needs of families with a combined monthly income of Rs 20,000 to Rs 40,000, she said.
The company has invested in hybrid technology solutions to enable speed and also collaborated with the Indian Institute of Madras for a cost-effective and innovative foundation design.
It would be a green building project pre-certified by the Indian Green Building Council.
