Mahindra Happinest Developers Ltd., a joint platform between Mahindra Lifespace Developers Ltd. (MLDL) and HDFC Capital Affordable Real Estate Fund-1, has announced that it has received over 500 applications for its affordable homes project in Kalyan called Happinest Kalyan.
Located on the Bhiwandi-Kalyan Corridor, the project comprises seven- 14- and 22-storey towers, with 1,241 homes in one bedroom hall kitchen (BHK) and two BHK configurations spread across nine acres.
Homes in the project are priced between ₹29.95 lakh and ₹55.7 lakh. The project is registered with Maharashtra Real Estate Regulatory Authority.
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Arvind Subramanian, CEO, Mahindra Happinest, said, “For the first time, we are inviting customers to participate in choosing amongst a set of unique amenities that we will provide. The final choice will be based on a combination of popular choice and economic viability.”
The homes requires significantly lower upkeep and running expense, he said. “Customers have responded very enthusiastically, with over 500 families registering with us in the first week of the launch.”
In an industry-first launch scheme, the project offers a Multiplier Rebate Plan whereby all customers who register for the launch will benefit as the total demand for homes increases, and those who register earlier benefit more.
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All homes of Happinest meet the qualifying criteria under the Pradhan Mantri Awas Yojna, on the basis of which eligible customers can avail of a loan interest subsidy up to ₹2.67 lakh.