Mahindra Lifespaces Launches Second Phase of Happinest Boisar

  • First Phase witnesses remarkable success – over 300 homes sold
  • To host HAPPINEST HOMEFEST' at Kora Kendra Hall, Borivali on Gudhi Padwa

Mumbai, March 12, 2015: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the USD 16.5 billion Mahindra Group, today announced the launch of the second phase of its affordable housing project – HAPPINEST - in Boisar, a suburb of Mumbai, on the occasion of Gudhi Padwa. The second phase of the Happinest project, with unit prices starting from Rs 11 lakhs onwards is targeted at the rising Indian middle class. This project is aligned with the Mahindra Group’s philosophy of enabling people to & Rise’ and driving positive change.

Mahindra Lifespaces will also be hosting 'HAPPINESS HOMEFEST' at Kora Kendra Hall, Borivali from March 20 - 22, 2015. HAPPINEST HOMEFEST IS a three day event where customers can book their dream home at a central location.  

Mr. Sriram Mahadevan, Business Head, Happinest, said, We have received an overwhelming response to our first phase, having sold over 300 flats since the launch in Diwali. Built on the three pillars of Trust, Better Living and Affordability, Happinest is focused on serving the large underserved home ownership market. The launch of the second phase signals our continued efforts to create thriving communities and enable a larger cross section of people to fulfil their dreams of owning a home in a safe, secure and healthy environment."

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 also be in the vicinity.

Spread over 14 acres, Happinest Boisar offers 1 RK, 1 BHK, and 2 BHK apartments in the range of 351 sq. ft. to 762 sq. ft priced from Rs. 11 to 24 Lakhs. Centrally located with easy accessibility, the project is in close proximity to the railway station, bus stands, hospitals, schools and colleges.

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 the project. Design has also looked at energy conservation while ensuring that these homes are equipped to address the future lifestyle needs of customers with provision for appliances like air conditioners and washing machines. The development will have 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 Boisar is environment friendly and has been pre-certified by the IGBC (Indian Green Building Council, continuing to exemplify the green development philosophy of Mahindra Lifespaces.

About Mahindra Lifespaces

Mahindra Lifespace Developers Ltd. the real estate and infrastructure development business of the $16.5 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. (8.3 million sq ft) of completed projects and over 1.0 million sq. m. (11.3 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 1862 hectares (4,600 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.

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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 16.5 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 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:

Ruzbeh Irani
Chief Group Communications and Ethics Officer and
Member of the Group Executive Board
Mahindra Group
Phone: +91 22 2490 1441
+91 22 2490 1441

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