Mahindra Lifespaces has been coming up with several affordable housing projects and the latest one is located at Palghar, the Mumbai suburban zone, where 1 room-kitchen apartments are being offered at only Rs. 8 lakhs. The project is being developed under the Happinest brand of Mahindra Lifespaces and there are 1 BHK and 2 BHK apartments available with prices going up to Rs. 24 lakhs. The project offers abundant natural greenery for residents.
The apartments have coverage under the interest subsidy scheme of the Central Government and buyers can get Rs. 2.67 lakhs in discounts on the total cost of interest in case they are purchasing with a home loan. HDFC Capital Affordable Real Estate Fund-I is backing this project.
Mahindra Lifespaces has been developing apartments under the Happinest brand since the year 2014 and has already sold close to 1, 500 apartments successfully. At its present projects at Boisar and Avadi, more than 1, 100 apartments have already been delivered to customers. The project at Palghar offers 850 apartments along with several amenities. The project covers an area of 8 acres. The project has a common facility center in tandem with a cricket pitch, joggers track, area for senior residents, community hall, badminton court and playing zone for children.
The project also offers great connectivity to several colleges, schools, shopping centres, hospitals, restaurants, movie theatres and retail zones. All Happinest projects are also eco-friendly and come with IGBC (Indian Green Building Council) certification. The project makes use of technologies and materials which are energy efficient. The project at Palghar comes with an energy efficient roof structure and wall along with LED lighting for the landscapes, grey water treatment provisions, rainwater harvesting systems, street lighting and organic waste treatment facilities. The future bullet train will also boost connectivity between Mumbai and Palghar. Currently, the local train network offers good connectivity to Mumbai and South Mumbai can be accessed within an hour or so.