Mahindra Lifespaces Launches Second phase of Happinest at Avadi, Chennai

Mahindra Group, 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 Indian middle class. Avadi, where Happinest is located is one of the fastest growing suburbs of Chennai, with proximity to social infrastructure like public transport, education & healthcare. End Quote

(1888PressRelease) July 16, 2015 - Chennai: 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 Indian middle 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 infrastructure like public transport, education & healthcare. Spread over 13 acres, the project will be 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, "Happinest Avadi has received an overwhelming response, with more than 350 units being sold since the launch in August 2014, and is amongst the fastest selling projects in Chennai. Construction of the first phase is progressing well and we are on schedule for handover to customers. We are today launching our 2nd phase, which comprises of 176 units of 1BHK & 2BHK configuration with a total saleable area of close to 100,000 sq.ft."

Happinest uses Aluminum Formwork technology that not only ensure speedy construction but also consistent quality. Among various other initiatives that accelerates the pace of construction, is the use of Ready-to-fit components like UPVC Windows and FRP encased Cellular Light Weight Concrete door frames. Happinest has also collaborated with IIT Madras for a cost effective and innovative foundation design. In line with the green development philosophy of Mahindra Lifespaces, Happinest uses environment friendly CLC blocks and 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

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 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.

Visit us at www.mahindra.com

Our Social Media Channels:
https://www.youtube.com/user/MahindraRise
https://www.facebook.com/MahindraRise
https://twitter.com/MahindraNews

For further enquiries please contact:
Deepa Thomas
General Manager, Group Communications
Mahindra Group
Tel: +91 22 24916855
Email: thomas.deepa ( @ ) mahindra dot com

###

Visit Mahindra Lifespaces Website

space