Mahindra Lifespace Developers Ltd. (MLDL) has launched its first affordable housing project, “Happinest – Palghar” to be undertaken by a joint platform between the Company and HDFC Capital Affordable Real Estate Fund-1, a fund managed by HDFC Capital Advisors Ltd. The project is coming up at Palghar, near Mumbai and comprises around 850 apartments and community spaces on over 8 acres, with prices ranging from Rs 8 lakhs to Rs 24 lakhs. The project provides facilities like joggers track, cricket pitch, community hall, senior residents’ area, children’s play area and badminton court. Multiple schools, colleges, hospitals, shopping centers, movie theatres, restaurants and retail outlets are also in close proximity to the project.
Palghar has recently been identified by the state government for fast-tracked infrastructure development. Construction work on a brand-new district headquarters is already underway. Furthermore, India’s first bullet train, the Mumbai-Ahmedabad High Speed Rail (MAHSR) project, is expected to include a halt near Palghar, thereby improving connectivity to Mumbai and opening avenues for further infrastructure creation and business growth.
The project offers environment friendly living via energy-efficient wall and roof structures; grey water treatment facilities; LED lights for landscapes and street lighting; organic waste treatment and rainwater harvesting amenities. Furthermore, Happinest-Palghar has been designed to be convenient for the differently-abled and senior citizens, with common areas that enable hindrance-free movement for both. The project is pre-certified ‘Platinum’ under IGBC’s Green Affordable Housing Rating System. Eligible customers of Happinest-Palghar can avail the benefits of the Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN)-Housing for All, resulting in savings of upto Rs 2.67 lakhs.