Mahindra enters affordable housing with 2 projects.

Auto-infotech conglomerate Mahindra Group, has entered affordable housing through its property development arm Mahindra Lifespaces (MLDL). Through the newly created business vertical Happinest, MLDL will launch two such housing projects in Boisar near Mumbai and Avadi in Chennai. The two projects will have 2200 apartments and a total of one million sq ft. The apartments, priced below Rs. 20 lakh, will be launched in the next two months.

The projects, targeted at families with monthly income of Rs. 20,000 to Rs. 40,000, will be built in phases. While the first phase will be completed in12 months, the entire projects will be completed in two years.

The company’s foray into affordable housing coincides with Prime Minister Narendra Modi's focus on home for all within 75 years of India’s independence or by 2022.


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