Mahindra Lifespace Developers Ltd (MLDL) today launched its first affordable housing project `Happinest’ in Chennai.
The project would have 1 and 2 BHK apartments in the upcoming Avadi area of the city with a starting price of Rs 9.90 lakh.
Anita Arjundas, MD &CEO, MLDL, in a release filed with the stock exchanges, said the Avadi affordable housing project was targeted at families with a combined monthly income of Rs 20,000 to Rs 40,000.
Spread over an area of 13 acres, `Happinest’ would have 1 and 2 BHK flats ranging in size from 396 sq ft to 677 sq ft and would be home to more than 1200 families. Apart from facilities such as power backup for the common areas and elevators, there would be commercial establishments for daily needs and a dedicated auto bay to enable easy commuting. It will also be a low maintenance, green building project, the release added.
The shares of MLDL, which belongs to the M&M group, are trading at Rs 572.65, up by Rs 3.40 on the BSE.
Recent projects of Mahindra Lifespace Developers Limited in Chennai:
>Nova in Mahindra city, Chennai