Mahindra Lifespaces launched its 2nd affordable housing project in Mumbai

Q: Mahindra Lifespaces Developers, the real estate arm of Mahindra Group, on 10.10.2014 launched its 2nd affordable housing project in Mumbai.

Suresh,

13th October 2014

Real estate News in Mumbai

affordable housing

mumbai

mahindra lifespaces developers

mahindra group

newly launched projects in mumbai

mahindra happinest

residential projects in boisar

ppp

affordable housing project in mumbai

public private partnership

Follow Discussion

Also see discussions for

Mumbai Real estate News Real estate News in Mumbai

Replies (15)

I want to sell 1 BHK apartment in mahindra happinest contact 9867426502

Ashley,

31st October 2018

Comment

Hi Folks,
Mahindra Lifespace Developers is ambitious to join hands with the central and the state governments and participate in the public private partnership (PPP) programme to make affordable housing a reality for large number of Indians. Their residential segments catering to mid-premium and super premium households.

Vasanth,

25th June 2015

Comment

Heu Vasanth,
The news has become old. With the help of these projects they create opportunity to middle class with family income ranging between Rs. 20000-50000/month. Through "Happinest" they designed homes to serve this large emerging group. About 9 months ago the company launched its first affordable housing project at Avadi in Chennai. It offered 1/2BHK residential apartments in the price brackets of Rs. 9.9 lakh to Rs. 17.5 lakh. Currently, these units are available at Rs. 11 lakh to Rs. 21 lakh range.

Ravindra Singh,

25th June 2015

@Ravindra,
I heard that in phase-1, they have launched around 600 units and have sold more than 300 units in a very sluggish market in Chennai. That clearly indicates that whatever be the market conditions, there is a segment of people who are wishing to own their own homes, if priced appropriately.

Vasanth,

25th June 2015

Right Vasanth,
They have focused on value engineering to offer affordable housing and selected for new technologies to reduce cost, but improve the overall product quality. They are awaiting for the government to come out with its housing policy towards this and will be happy to join hands and implement this through a workable public private partnership (PPP) route.

Ravindra Singh,

25th June 2015

Hi everybody,
Mahindra group's realty arm Mahindra Lifespaces has launched the phase-2 of its affordable housing project in Mumbai's suburbs in March'2015. In Ph-2 they are offering around 240 flats. This project is strategically located in Boisar, on the outskirts of Mumbai.

Lalit Verma, Mumbai

25th June 2015

Comment

Hey Lalit,
I was waiting for this project as the locality is very near to my work place. Can you tell me what are the various options available in it and its price?

Kishore Pathak, Mumbai

25th June 2015

Well Kishore,
The flat size is ranging between 351/762 sq-ft with 351 sq-ft being 1 room, kitchen and and 762 sq-ft being 2 BHK with bedroom, hall, kitchen. As per the developer, flats range from Rs. 11 lakh to Rs. 21 lakh

Lalit Verma, Mumbai

25th June 2015

If i am not wrong, company has launched its two project during one in Mumbai and another is CHennai as pilot project in the affordable housing segments. The company is looking to expand further in Maharashtra. The company will announce more projects in Maharashtra soon.

Kishore Pathak, Mumbai

25th June 2015

Right Kishore,
The first phase which the company launched around Diwali last year has already seen more than 300 flats being sold. The price bracket in the phase-1 was almost the same as phase-2.

Lalit Verma, Mumbai

25th June 2015

This project is under construction and developing almost 359 units. Almost all the leading banks have approved this project for housing loan. And the date of possession will be December'2016.

Vineet Tendulkar, Mumbai

16th February 2015

Comment

Mahindra Happinest Project Details:- Located at Boisar, Mumbai it offers 1/2 BHK residential flats. 1BHK from 369-540 sq-ft. and 2BHK in 695 sq-ft. It's current price is Rs. 2650/sq-ft. It is G+5 storey apartment consists 9-towers. cost of 1BHK will be Rs. 9.76 lacs to Rs. 14.28 lacs onward and for 2BHK it will be Rs. 18.38 lacs onward.

Vineet Tendulkar, Mumbai

16th February 2015

Comment

About their upcoming projects:- Mahindra Lifespace Developers has recently announced plans to venture into the luxury weekend homes segment. Earlier this year, the real estate firm entered into the affordable housing segment with its Happinest brand. In the luxury weekend homes segment, the firm also plans to set up villas under the name The Serenes.

Ramesk Polekar, Mumbai

21st January 2015

Comment

About developer:- Mahindra Lifespaces is a part of Mahindra Group specializing in real estate development. Focusing on high quality standards, the company holds expertise in developing spaces for healthy living. They works with the aim to transform urban landscapes by developing sustainable communities. Some of the key completed residential spaces by Mahindra Lifespaces are Great Eastern Gardens in Kanjurmarg, Mumbai, The Woods in Wakad, Pune, Mahindra Park in Ghatkopar West, Mumbai etc. They have become the preferred choice among property buyers through maintaining transparency in business, timely delivery and high quality standards.

Ramesk Polekar, Mumbai

21st January 2015

Comment

This development will have power back up for common areas, elevators, open car parking, walking track and plenty of open spaces for senior citizen, children of all ages will be able to enjoy themselves in open areas ranging from tot lots and toddler play areas to cricket ground, a volleyball court and a badminton court.

Sandeep Mhatre, Mumbai

14th November 2014

Comment

Hi Amreesh,
Currently, Urban India has an estimated 19 million families either living in slums or in low income neighbourhood on rent and this housing loss is likely to rise to 38 million by 2030. Targated at large, under served home ownership market in India. Mahindra Lifespace Happinest spread over 14 acres, it offers 1RK, 1BHK and 2BHK apartments in the range of 351 sq-ft to 695 sq-ft.

Sandeep Mhatre, Mumbai

14th November 2014

Comment

As far as its connectivity is concerned it also offers seamless connectivity to Mumbai and Gujrat by local and outstation trains. The proposed Delhi Mumbai Industrial corridor will also be in the vicinity. all the basic facilities such as railway station, bus stands, hospitals, schools and colleges in close proximity.

Vinay Dixit, Mumbai

14th November 2014

Hi Vinay,
Although Boisar is far from Mumbai, it is still accessible within one-and-half hours. The proposed local train till Dahanu will entirely change the population structure of the region. I can see tremendous real estate activity around the site of the Tata project. Heard that Lodha group has bought 100 acres of land somewhere nearby. HDIL has already come at Palghar.

Ramesk Polekar, Mumbai

14th November 2014

Comment

How much return one can expect in next 2-3 years?

Happy Returns,

6th November 2014

Comment

Hi,
Boisar Location is upcoming. East side of station where it is all Jungle, about 2.5 kms from station by Shared Auto, Barren land was under development by Tata. West is well developed but again majority population is low wages or salaried class so do not expect Rental or Appreciation returns.

Vinay Dixit, Mumbai

14th November 2014

'Happinest' is an attempt to meet the housing needs of families with current combined monthly income of Rs 20000-40000. How will customer get benefited and which are the financial institutions ready for finance?

Santosh TR,

13th October 2014

Comment

No need to worry, the company has tied up with credit scoring agencies like Inventure and micro home finance companies like Mahindra Finance and Muthoot to reach out to right customers.

Amreesh Murugan,

13th October 2014

What is the company's expectation in the coming year? How will they achieve this target?

Santosh TR,

13th October 2014

Comment

Well Santosh,
The company expects the business to contribute nearly 20-25% of its revenues in the next few years. But for achieving this target, they will have to create larger volumes through speedy execution.

Amreesh Murugan,

13th October 2014

How is the developer and how long this project will take to complete? How many phase are under this project and what is the nos of flats going to develop in first phase?

Santosh TR,

13th October 2014

Comment

Their goal is to provide good quality housing at affordable rates. They have decided to deal with 2 pilot projects one in Chennai, which they have already launched in August and the second one is at Boisar in Mumbai. In the first phase, where construction will commence from next week and is scheduled to be completed in a year, the company will build nearly 359 units.

Amreesh Murugan,

13th October 2014

Hi,
Can i expect for a good review of this project? What are the sizes available and how much it will cost to a middle class family?

Santosh TR,

13th October 2014

Comment

Hi Santosh,
Happinest by Mahindra Lifespace located at Boisar, Mumbai is spread across over 14 acres, offers 1RK, 1/2 BHK apartments in the range of 351-695 sq-ft and would have a total of 1400 units. The apartments will be priced between Rs 9.1 lakh to Rs 17.5 lakh.

Amreesh Murugan,

13th October 2014