Mahindra Happinest strengthens focus on affordable housing
Mahindra Happinest Developers (Mahindra Happinest), a joint platform between Mahindra Lifespace Developers (MLDL) and HDFC Capital Affordable Real Estate Fund-1 (HDFC Capital), has renewed its focus on affordable housing with a new promise – ‘Live, Smile and Prosper’.
Today, the brand announced the success of its recently launched affordable housing project, Happinest Kalyan, which received more than 500 applications within a week of its launch. The project was launched in a record time of eight days from the date of the land acquisition.
Strategically located on the Bhiwandi-Kalyan Corridor (New BKC), Happinest Kalyan comprises 7, 14 and 22 storied towers, with 1,241 homes in 1BHK and 2BHK configuration spread across 9 acre. Homes in the project are priced between Rs 29.95 lakh and Rs.55.70 lakh. The project is registered with Maharashtra Real Estate Regulatory Authority (MahaRERA).
Arvind Subramanian, CEO, Mahindra Happinest, says, “This is a unique product that has broken the compromise between a high quality product at an attractive ticket size.” He adds, “Driven by deep customer research, our products have several features that delight the customers by addressing even their unarticulated needs. For the first time, we are inviting customers to participate in choosing among a set of unique amenities that we will provide. The final choice will be based on a combination of popular choice and economic viability. We believe that ongoing maintenance cost is as important as the purchase cost of a home, and we have designed our development, which requires significantly lower upkeep and running expense.”
Maintaining the focus on environment-friendly homes that boost user health and well-being and promote sustainable urbanisation in India, Happinest Kalyan is designed to maximise natural light and ventilation. The efficient layout also allows more usage area inside the room by avoiding wastage of space. The project houses about over 1,200 trees and reduces the carbon footprint during the construction phase by up to 44 per cent by sourcing all the construction materials within 150 km radius.
The project has been pre-certified ‘Gold’ by the Indian Green Building Council (IGBC) and will offer benefits of significantly lower maintenance costs. It has been designed to be friendly for the differently-abled and incorporates resource-efficient elements such as solar power lighting in common area, aerators in faucets and showers; recycled water for flushing, xeriscaping and treated organic waste.
The project will be developed in three phases, with this being the launch of phase-I. “We aim at delivering this phase in December 2023, with the company having to incur a construction cost of less than Rs 2,000 per sq ft,” informs Subramanian. He adds, “We will use aluminium formwork in all our towers, and are looking at achieving per slab within an average of 10-12 days.”
Keeping in mind the day-to-day needs of the residents, the project offers a host of modern amenities, including a crèche, medical, pre-school, dedicated jogging and cycling tracks. Happinest Kalyan encompasses industry-first features and amenities such as ‘My Series’, co-created pay-per-use amenities such as study rooms, mini theatre, a performing arts space, storage facilities, will be provided based on the needs expressed by the residents and their business viability; Ultrasonic water meters in each home will help monitor water usage in each home and aid residents in avoiding water wastage. Real-time monitoring of the STP will help optimise performance and mitigate risk of breakdowns.
Furthermore, the residents of Happinest Kalyan will enjoy great road-rail-metro connectivity access to reputed schools, colleges, business hubs, hospitals, and markets. The project also provides convenient access to railway stations, and the proposed Rajnouli metro station (Metro Line-5). The future infrastructure in the vicinity of the project includes a 126 km long 12-lane Virar-Alibaugmulti-modal corridor, Mumbai-Nagpur Samrudhi Mahamarg, Delhi-Mumbai Industrial Corridor, Dombivali Mankholi Road, which will enhance connectivity and open avenues for further infrastructure creation and employment growth.
In an industry-first launch scheme, the project offers a Multiplier Rebate Plan (MRP) whereby all customers who register for the launch will benefit as the total demand for homes increases, and those who register earlier benefit more. All homes of Happinest meet the qualifying criteria under the Pradhan Mantri Awas Yojna, basis which eligible customers can avail loan interest subsidy up to Rs. 2.67 lakh.
- SHRIYAL SETHUMADHAVAN
- Mahindra Happinest Developers
- Mahindra Happinest
- Mahindra Lifespace Developers
- HDFC Capital Affordable Real Estate Fund-1
- HDFC Capital
- affordable housing project
- Happinest Kalyan
- Bhiwandi-Kalyan Corridor
- New BKC
- Arvind Subramanian
- Indian Green Building Council
- aluminium formwork
- Real-time monitoring
- road-rail-metro connectivity
- Virar-Alibaugmulti-modal corridor
- Mumbai-Nagpur Samrudhi Mahamarg
- Delhi-Mumbai Industrial Corridor
- Dombivali Mankholi Road
- Multiplier Rebate Plan
- Pradhan Mantri Awas Yojna