Mahindra Lifespace to make Rs 350-cr investment in affordable housing
Over the span of the next one year, the Mahindra Group is planning to make a strategic investment in the affordable housing arena.
According to an announcement made recently by Mahindra Lifespace Developers (MLDL), an investment of Rs 350 crore will be made by the company in the affordable housing space in the coming year. MLDL is the realty and infrastructure development division of the $16.5-billion of the bigwig Mahindra Group.
With regard to its forthcoming investment in the affordable housing space, MLDL had launched its new business vertical, ‘Happinest’ in June this year. In that announcement, MLDL had asserted that it will, over the next few months, reveal further details about its affordable housing ventures.
While making the announcement, MLDL had said that plans are underway to soon launch the first two affordable housing projects in Chennai and Mumbai.
In connection with the new projects in the affordable housing sector, MLDL’s Managing Director and CEO Anita Arjundas said that the company has teamed up with credit scoring agencies as well as housing finance companies, in order to obtain the data base of their customers.
Source- The Financial Express
Affordable Housing, investment in affordable housing, Mahindra group, Mahindra Lifespace, Mahindra Lifespace Developers, MLDL
