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Mahindra Lifespaces strengthens its presence in Pune with successful launch of 'Centralis'

Over 300 units booked in first three days of launch

Pune, March 07, 2019: Mahindra Lifespace Developers Limited ("Mahindra Lifespaces"), the real estate and infrastructure development business of the USD 20.7 billion Mahindra Group, continues to maintain strong focus on Pune as a priority growth market for the Company in India. The Company’s latest mid-segment residential project ‘Centralis’ has received a remarkable response in the early launch phase. The project is strategically located in the heart of Pimpri, spans 4.5 acres and comprises more than 400 1 BHK and 2 BHK apartments across four towers. Apartments in Centralis range from 37.5 sq.m. (416.89 sq.ft.) to 53.44 sq.m. (593.85 sq. ft.) of carpet area; and are priced ~Rs 47.56 (all inclusive) lakhs onwards. The project is registered with Maharashtra Real Estate Regulatory Authority ("MahaRERA")*.

Ms. Sangeeta Prasad, Managing Director and Chief Executive Officer, Mahindra Lifespace Developers Limited, said, "We are delighted with the extremely encouraging response to the launch of Centralis. Pune has always reposed its trust and faith in Mahindra Lifespaces. We remain committed to enhancing our presence in the city as part of our strategy to grow our business in leading end-user driven real estate markets across India."

Centralis is Mahindra Lifespaces’ fifth residential project in Pune. The project is in close proximity to educational institutions; hotels and restaurants; and malls and cinema theatres, in keeping with the Company’s approach of ensuring convenient accessibility to key social infrastructure across its residential projects. Centralis is well connected to the Mumbai-Pune Expressway; the PCMC Link Road; extensive bus services; Pimpri and Chinchwad railway stations; and the Pune airport. The proposed Pimpri Metro station is located half a kilometer away.

Amenities at Centralis have been thoughtfully designed keeping in mind the evolving needs of home buyers. They include a swimming pool and kids' pool; gym; multipurpose court; tennis court; jogging track; clubhouse; kids’ play area; and a senior citizens' plaza.

Mahindra Lifespaces is focused on the development of green homes that boost user health and well-being and promote Sustainable Urbanisation in India. Centralis has been designed in an L-shaped layout that enhances natural light and ventilation. Utilities’ costs are reduced via energy-efficient walls and roofs; artificial lighting design; and solar hot water systems. Other features include low-VOC paints for improved indoor air quality; treated organic waste for landscaping; rainwater harvesting; and waste segregation at every level. Centralis is GRIHA (Green Rating for Integrated Habitat Assessment) pre-certified 4 Star and will offer benefits of relatively lower maintenance costs.

Mahindra Lifespaces has been present in Pune since 2007 and has completed more than 2.87 mn sq. ft of development. Previous projects such as 'Mahindra Royale' in Pimpri-Chinchwad, 'The Woods' in Wakad and 'L'Artista' in Sopanbaug have been successfully sold out. Another mega residential project, 'Antheia’ in Pimpri, is nearing completion, with 1000 homes already handed over.

About Mahindra Lifespace Developers Ltd

Established in 1994, Mahindra Lifespace Developers Ltd. is the real estate and infrastructure development business of the USD 20.7 billion Mahindra Group, and a pioneer of sustainable urbanisation in India. The Company is committed to transforming India's urban landscape through its residential developments under the 'Mahindra Lifespaces' and 'Happinest' brands; and through its integrated cities and industrial clusters under the 'Mahindra World City' and 'Origins by Mahindra World City' brands.

Mahindra Lifespaces delivers innovative customer-focused solutions that are rooted in a legacy of trust and transparency. The Company’s development footprint spans 24.5 million sq. ft. (2.3 million sq. m.) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development/management at its integrated developments / industrial clusters across four locations.

A pioneer of the green homes movement in India, Mahindra Lifespaces has been ranked 4th in Asia in its category, in the '2017 GRESB Real Estate ESG (Environmental, Social and Governance) Assessment'. The Company has also been ranked 22nd amongst India’s great mid-size workplaces – 2018, by the Great Places To Work Institute.

Learn more about Mahindra Lifespaces at www.mahindralifespaces.com

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

For further enquiries please contact:

Pramuch Goel,
General Manager,
Group Communications, Mahindra Group
Tel: +91 22 2490 5943
email :goel.pramuch@mahindra.com