Mahindra Lifespace Developers, the real estate and infrastructure development arm of Mahindra Group, today launched its second Happinest project in Boisar, a suburb of Mumbai. Currently, urban India has an estimated 19 million families either living in slumps or in low income neighbourhoods 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 build on the three pillars of trust, better living and affordability.
''Our first Happinest project at Avadi near Chennai has received a very encouraging response in the first month itself. Build on the three pillars of trust, better living and affordability the new project at Boisar signals our continuous efforts to enable a larger cross section of Indians to fulfil their dreams of home ownership in a safe, secure and healthy environment,'' said Anita Arjundas, managing director & CEO, Mahindra Lifespace Developers.
Shares of the company gained Rs 6.6, or 1.27%, to trade at Rs 525. The total volume of shares traded was 607 at the BSE (12.19 p.m., Thursday).