Branded ‘Happinest’, these houses would be priced in the range of Rs.10 lakhs to Rs.20 lakhs and are aimed at families having a combined income of Rs.20,000 to Rs.40,000 per month. According to Anita Arjundas, MD and CEO Mahindra Lifespace Developers, these projects would be priced at under Rs 20 lakhs and be delivered to the customer in a year's time after the launch.
Commenting on the launch, Anand Mahindra, Chairman, Mahindra Group, said “Our commitment to sustainable urbanization is to be in businesses and develop projects that promote Culture, Connectedness and Community. Happinest, an initiative by Mahindra Lifespaces epitomizes the concept of Shared Value where companies seek to do business in a manner which combines profitability with advancing the economic and social conditions of the communities which they operate in. I welcome this foray into the affordable housing space which is critical to India’s growing urbanization”.
According to Arun Nanda, Chairman, Mahindra Lifespace Developers Ltd., Mahindra Lifespaces has always believed in pioneering new approaches and business models, be it the Mahindra World Cities or Green residential developments. Happinest is our strategic endeavour to address the large and under-served home ownership market in India by using our manufacturing and innovation mindset to create mass solutions at affordable prices”.
““India is urbanizing fast and more than a third of urban Indians cannot afford to buy their own homes. Happinest stands for our intent to enable a cross section of Indians fulfill their dreams of home ownership in a safe, secure and healthy environment. Enduring and thoughtful design, swift execution using technology and enabling access to home ownership through financial inclusion will be both the enablers and the pillars of success”, said Anita Arjundas, Managing Director & CEO, Mahindra Lifespace Developers Ltd.
Currently, Urban India has an estimated 19 million families either living in slums or in low income neighborhoods on rent and this housing deficit is likely to rise to 38 million by 2030. Targeted at the large, under-served home ownership market in India, Happinest is built on three pillars of Trust, Better Living and Affordability.
Happinest homes are focused on offering its customers safe and secure neighborhoods with good transport connectivity in well planned developments. Addressing the cultural and social nuances of the target customer’s lifestyle have been important elements of the design process, like the provision of balconies, community spaces etc. Design has also looked at energy conservation while ensuring that these homes are equipped to address the future lifestyle needs of the customers.
The Company has also invested in innovations to ensure speedy execution and lower costs for its Happinest projects. It has collaborated extensively with IIT Madras to validate a cost effective and innovative foundation and is using hybrid technology solutions to enable speed. Ready-to-fit components will be used thereby reducing on-site work and quality variation to enable faster delivery to customers. The Building envelope is designed to ensure higher thermal insulation to reduce heat gain, while the window to wall area ratio has been kept to an optimum size for better climate control.
