Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Mahindra Lifespaces - HDFC Capital affordable housing platform launches its first project

Posted On: 2018-02-17 09:50:40

Mahindra Lifespace Developers Ltd. ('MLDL') today announced the launch of 'Happinest - Palghar' - the first affordable housing project to be undertaken by a joint platform between the Company and HDFC Capital Affordable Real Estate Fund-1 ('HDFC Capital'), a fund managed by HDFC Capital Advisors Ltd. Happinest - Palghar comprises around 850 thoughtfully designed apartments and community spaces on over 8 acres, with prices ranging from Rs 8 lakhs to Rs 24 lakhs.

Anita Arjundas, Managing Director, Mahindra Lifespace Developers Ltd., said, "The Affordable Housing segment is a key focus area for Mahindra Lifespaces, and will play an important role in our development journey. We are delighted to kickstart 2018 with the launch of Happinest - Palghar, the first of multiple affordable housing projects envisioned under our joint venture with HDFC Capital. Strategic locations, good connectivity and value for money products will be important determinants for our affordable housing projects."

Vipul Roongta, CEO, HDFC Capital Advisors Ltd, said, "HDFC Capital is committed to partnerships with trusted real estate brands, with good track record of development and delivery, and a long-term view of affordable housing. Right-location, customer-focused projects such as Happinest - Palghar are the need of the hour, and will create sustainable value for home owners in India. This is one small step towards "Housing For All by 2022", which HDFC ltd has been working on as a mission and business objective to take the government's flagship scheme, 'Pradhan Mantri Awas Yojana (PMAY)', to the real beneficiaries."

Happinest - Palghar offers comfortable and well-ventilated 1 RK, 1 BHK and 2 BHK homes amidst lush, green surroundings. Residents of Happinest - Palghar will be able to derive all the benefits of owning a well-designed home with easy access to established social amenities, multiple connectivity options, and abundant employment opportunities. Already a popular tourist destination and a thriving industrial hub in Maharashtra, Palghar has recently been identified by the state government for fast-tracked infrastructure development. Construction work on a brand-new district headquarters is already underway. Furthermore, India's first bullet train, the Mumbai-Ahmedabad High Speed Rail (MAHSR) project, is expected to include a halt near Palghar, thereby improving connectivity to Mumbai and opening avenues for further infrastructure creation and business growth.

Happinest - Palghar is a short drive from Palghar station, and is located minutes away from the MIDC in Boisar, which is home to over 1300 active industrial units. Residents will have access to best-in-class features and amenities that will offer maximum value per square foot, together with ample socialisation opportunities; these include a common facility center, joggers track, cricket pitch, community hall, senior residents' area, children's play area and badminton court. Multiple schools, colleges, hospitals, shopping centers, movie theatres, restaurants and retail outlets are also in close proximity to the project. Eligible customers of Happinest - Palghar can avail the benefits of the Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN)-Housing for All, resulting in savings of upto Rs 2.67 lakhs.

In line with Mahindra Lifespaces' focus on sustainable urban development, Happinest - Palghar offers environment friendly living via energy-efficient wall and roof structures; grey water treatment facilities; LED lights for landscapes and street lighting; organic waste treatment and rainwater harvesting amenities. Furthermore, Happinest - Palghar has been designed to be convenient for the differently-abled and senior citizens, with common areas that enable hindrance-free movement for both. The project is pre-certified 'Platinum' under IGBC's Green Affordable Housing Rating System.

Mahindra Lifespaces has been present in the affordable housing segment since 2014, through its category brand 'Happinest'. Around 1,500 units have been sold across the Company's ongoing affordable housing projects in Chennai (Happinest, Avadi) and MMR (Happinest, Boisar); and over 1,100 homes have already been handed over. Each Happinest project is certified by the Indian Green Building Council (IGBC), and utilises environment-friendly and energy-efficient materials and technologies to enable balanced and healthy living. Happinest, Avadi has been conferred India's first IGBC 'Platinum' certification for Green Affordable Housing.

Happinest leverages innovative technologies and value engineering approaches to ensure quality and timely construction in a cost-effective manner. MLDL has also focused on creating an ecosystem for access to home finance for its customers in the segment; this includes partnerships with NBFCs that survey the financial capability of prospective customers, and accordingly approve home loans.

Shares of MAHINDRA LIFESPACE DEVELOPERS LTD. was last trading in BSE at Rs.459.95 as compared to the previous close of Rs. 462.85. The total number of shares traded during the day was 2831 in over 134 trades.

The stock hit an intraday high of Rs. 465.95 and intraday low of 450. The net turnover during the day was Rs. 1291765.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

TCS Recognized as a Leader in Finance and Accounting Digital Augmentation Suite by Everest Group

Meera Industries Ltd receives order from Bolivia

Sun Pharma announces Australian TGA approval of ILUMYA™

Reliance Industries Ltd updates on KGD6 well

Dion Global Solutions launches Modular Wealth Intelligence Platform

Infosys Recognized as a Microsoft Azure Expert Managed Services Provider

Nagarjuna Fertilizers and Chemicals Ltd extends shut down of plant

Dilip Buildcon Ltd declared L-1 for Indore Metro Rail Project, Phase-I

Gravita expands production capacity of its plant situated at Chittoor, Andhra Pradesh

Graphite India Ltd clarifies on pollution issues at Bengaluru Plant

CARE assigns rating to Pitti Laminations Ltd

GRUH Finance Ltd to consider 2nd quarter results on Oct 29, 2018

Ashok Kumar Pradhan appointed as MD and CEO of United Bank of India

City Union Bank Ltd opens new branch at Uthukottai

Asian Paints commissions Plant at Mysuru

SBI assigns loans given to Modern Dairies Ltd to Edelweiss ARC

Tera Software Ltd announces resignation of CFO

NELCAST Ltd commissions Phase I of greenfield project

Karnataka Bank Ltd board to announce Q2 results on Oct 12, 2018

Infosys and Trinity College Launch Catalytic Partnership to Bridge the Liberal Arts and Digital Technology

Wipro Cited as a Leader in Everest Group's Digital Workplace Services PEAK Matrix™ assessment

Superstar Anushka Sharma, the new face of Softline Leggings

Ind-Ra assigns rating to Gallantt Metal Ltd

S Harisankar takes charge as MD and CEO of Punjab & Sind Bank

Suraj Products Ltd receives 5 Star Rating from Odisha State Pollution Control Board

S S Mallikarjuna Rao appointed as MD and CEO of Allahabad Bank

Asda selects HCL Technologies to help drive IT transformation

CARE reaffirms rating of Forbes and Company Ltd

Tata Power bags 'GOLD' at the Chapter Convention on Quality Circle 2018 Award

Ind-Ra assigns IND A1+ rating for GHCL Ltd's Commercial Paper

ICRA reaffirms long term rating of Sundaram Brake Linings Ltd

The Training Room and TCS iON Partner to Launch International Training and Careers Platform

ACCC announces clearance of the merger of Arrow Pharmaceuticals and Apotex Australia & NZ

Infosys Launches Wingspan, a Transformational Learning Solution for Enterprises

Delta Magnets Ltd approves merger of Arrow Textiles Ltd and MMG

NBCC India Ltd secures business of Rs. 921.67 crore in August 2018

G E Shipping takes delivery of Secondhand Very Large Gas Carrier 'Jag Vasant'

RBI allows Rana Kapoor to continue as MD & CEO of YES Bank till Jan 31, 2019

Asian Paints Ltd announces sad demise of Shri Ashwin Choksi

CCI imposes penalty of Rs. 12.35 crore to Bajaj Hindusthan Sugar Ltd

Blue Coast Hotels Ltd hands over possession of Goa hotel to ITC

Shankara Building Products Limited opens its 134th Store

Allahabad Bank to raise Rs. 1500 crore through QIP in 2018-19

Manali Petrochemicals Ltd to commence supply of new products from Sep 19, 2018

HPL Electric Participates in 12th edition of 'Renewable Energy India Expo 2018'

Kanpur Plastipack Ltd extends date for payment of final call money

Newgen Software Technologies Ltd signs agreement with HP for supply of software licences

Raghav Productivity Enhancers Ltd bestowed with Rajasthan Udyog Ratan Award 2018

Varroc Engineering arm forms JV with ELBA SA

Nucleus Software's lending software goes live at VietCredit Finance Joint-Stock Company





Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018