Mahindra Lifespaces Launches Second phase of Happinest at Avadi Chennai
Chennai, June 24, 2015:Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the USD 16.9 billion Mahindra Group,today announced the launch of the second phase of its affordable housing project – HAPPINEST Avadi.With unit prices starting from Rs 11 lakhs onwards, Happinest is targeted at the emerging Indianmiddle class. This project is aligned with the Mahindra Group’s philosophy of enabling people to Rise’ and driving positive change.Built on the three pillars of Trust, Better Living and Affordability, Happinest is focused on serving the large underserved home ownership market.
Avadi, where Happinest is located is one of the fastest growing suburbs of Chennai, with proximity to social infrastructurelike public transport, education & healthcare. Spread over 13 acres,the project willbe home to 1200+ families. The development consists of 1 and 2 BHK apartments with sizes ranging from 396 sq. ft. to 677 sq. ft. priced from Rs 11 to 21 Lakhs onwards.
Speaking on the occasion,Sriram Mahadevan, Business Head, Happinest said, HappinestAvadihasreceivedan overwhelming response, withmore than 350 unitsbeing sold since the launch inAugust2014,and isamongst the fastestsellingprojectsin Chennai.Construction of the first phase is progressing well and weare on schedule for handover to customers. We are todaylaunching our 2ndphase, which comprises of180 units of 1BHK & 2BHK configurationwith atotal saleable areaofclose to 100,000 sq.ft."
Happinest uses Aluminum Formworktechnologythat not only ensurespeedyconstruction but alsoconsistentquality. Among variousother initiativesthat accelerates the pace of construction, isthe use ofReady-to-fit components like UPVC Windows andFRP encased Cellular Light Weight Concretedoorframes.Happinest has also collaborated with IITMadrasfora cost effective and innovative foundationdesign.In line with thegreen development philosophy of Mahindra Lifespaces,Happinestusesenvironment friendlyCLC blocksand has been pre-certified by the IGBC (Indian Green Building Council),making the project environment and pocket friendly for Happinesters.
About Mahindra Lifespaces
Mahindra Lifespace Developers Ltd., the real estate and infrastructure development business of the USD 16.9 billion Mahindra Group, is a leader in sustainable urban development, through the creation of residential and integrated large format developments across nine Indian cities - Mumbai, Pune, Nagpur, Gurgaon, Faridabad, Jaipur, Chennai, Hyderabad and Bangalore. The Company’s residential and commercial development footprint includes over 0.8 million sq.m. (8.92 million sq ft) of completed projects and over 0.96 million sq. m. (10.38 million sq. ft.) of ongoing and forthcoming projects.
Mahindra Lifespaces has pioneered the concept of an integrated business city through Mahindra World City’ developments in Chennai and Jaipur. These developments cover 1796 hectares (4,437 acres) and house over 100 reputed global companies, providing an integrated environment for Life, Living and Livelihood.
The Company’s Green’ homes, pan-India presence, and the development of successful integrated cities have all contributed to Mahindra Lifespaces being recognized as a developer with a pioneering spirit. Mahindra Lifespaces is the first real estate company in India to release its triple bottom-line focused Sustainability Report that is based on the Global Reporting Initiative (GRI) framework and received an A+ rating indicating the highest levels of disclosure and transparency.
In 2014, Mahindra Lifespaces has been recognized as a Regional Sector Leader for Asia by the Global Real Estate Sustainability Benchmark (GRESB)
For more information please visit: www.mahindralifespaces.com; www.mahindraworldcity.com
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position intractors,utility vehicles,information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in theagribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics,real estate, retail, steel, commercial vehicles andtwo wheeler industries.
In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times Boldness in Business’ Award in the Emerging Markets’ category in 2013.
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