Mahindra Lifespaces Launches Phase 3 of Happinest Boisar

  • New phase launch follows hugely successful first and second phase
  • Homes priced Rs 11 Lakhs onwards

Bookings to open for Happinest Boisar Phase 3 at 'HAPPINEST HOMEFEST' - a two day an event where customers can book their dream homes at a convenient, central location, in the run up to Gudhi Padwa. Venue: Kora Kendra Hall, Borivali. Dates: 02nd & 03rd April, 2016.

Mumbai, March 30, 2016: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today announced the launch of Phase 3 of its affordable housing project - HAPPINEST - in Boisar, a suburb of Mumbai.

The third phase of Happinest Boisar comprises a total of 160 units, ranging in area from 351 sq. ft. to 762 sq. ft. The first two phases of the project have witnessed an overwhelming response, with Phase 1 sold out and a few units available for sale in Phase 2. Happinest also celebrates its 1000th customer this week and is gearing up to hand over an equal number of homes across its projects in Boisar and Avadi shortly.

Sriram Mahadevan, Business Head, Happinest, said, "As we embark on the launch of a new phase of Happinest Boisar, we would like to take the opportunity to thank our customers for the extremely encouraging response to the first two phases of the project. In addition to the promise of good quality housing at a reasonable price, this success may also be attributed to the growing attractiveness of Boisar as an investment destination."

One of Mumbai's fastest growing suburbs, Boisar is home to Maharashtra’s largest MIDC (Maharashtra Industrial Development Corporation) and offers seamless connectivity to Mumbai and Gujarat by local and outstation trains. The proposed DMIC (Delhi Mumbai Industrial Corridor) will be in the neighbourhood. The planned Mumbai–Ahmedabad high-speed rail corridor or bullet train will also be passing through the vicinity. Furthermore, the presence of leading retail brands like Big Bazaar and an upcoming D-Mart within 2 km of Happinest Boisar add to the locality's social infrastructure quotient. Thus supported by enhanced connectivity and good social amenities, Boisar today offers an excellent opportunity to invest in a high growth potential location well ahead of its time.

Spread over 14 acres, Happinest Boisar offers 1 RK, 1 BHK, and 2 BHK apartments. Centrally located with easy accessibility, the project is in close proximity to the railway station, bus stands, hospitals, schools and colleges. The project has tied up with all leading Public and Private Banks and Housing Finance Companies (HFCs). Happinest's 360-degree approach ensures customers that customers have the option to choose from the most attractive interest rates, flexible payment plans and micro finance institutions with customized packages. All units of Happinest meet the qualifying criteria under the Pradhan Mantri Awas Yojna, basis which eligible customers can avail loan interest subsidy upto Rs 2.2 lacs. Happinest Boisar has been pre-certified by the IGBC (Indian Green Building Council) as eco-friendly, thus ensuring low maintenance costs. Moreover, the customer base in Happinest Boisar largely comprises end users, thereby ensuring that the project will be a vibrant, busy and healthy community with attractive rental yields and good capital appreciation.

Happinest homes are built using the core design philosophy of Mahindra Lifespaces, namely 'Healthy Living' and 'Green Design'. The projects utilize environment-friendly and energy efficient materials which promise healthy living spaces and incorporate rainwater harvesting, optimal use of natural light and CLC blocks which help conserve resources. Addressing the cultural and social nuances of the target customer's lifestyle, Happinest homes have focused on creating an enhanced livability experience with balconies and community spaces within projects. Design also takes into account energy conservation while ensuring that these homes are equipped to address the future lifestyle needs of customers with provisions for appliances like air conditioners and washing machines.

Happinest Boisar will offer 24X7 power backup for common areas, elevators, an open car park, walking track, and plenty of open spaces for senior citizens. Tot lots are provided for toddlers and older children will be able to play sports on the cricket ground, volleyball court and badminton court.

Happinest has made home ownership more affordable by reducing the cost and time within which its projects are built, while maintaining high quality standards.

About Mahindra Lifespace Developers Ltd.

Mahindra Lifespace Developers Ltd., the real estate and infrastructure development business of the $16.9 billion Mahindra Group, is a leader and pioneer 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 Bengaluru. The Company's residential & commercial development footprint includes over 0.95 million sq.m. (10.21 million sq ft) of completed projects and over 0.92 million sq. m. (9.93 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; built on the philosophy of 'Livelihood-Living-Life', these developments span 1796 hectares (4,437 acres), house over 125 global and Indian companies and serve to drive economic growth and community development. In addition, Mahindra Lifespaces enables access to quality housing at affordable prices via its brand 'Happinest'.

A pioneer of the green homes movement in India, Mahindra Lifespaces is the first Indian real estate company to have voluntarily released its triple bottom-line focused, externally assured Sustainability Report based on the GRI (Global Reporting Initiative) framework. In 2015, Mahindra Lifespaces has been recognized as Regional Sector Leader in Asia, in its category, by the Global Real Estate Sustainability Benchmark (GRESB) for the second year in a row.

About Mahindra

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 in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.

In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. 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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For further enquiries please contact:

Zarina Hodiwalla
Deputy General Manager, Group Communications
Mahindra & Mahindra Ltd.
Tel: +91-22-2420527

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