Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Union Budget
Budget 2011-2012 Home
Industry Expectations - Budget 2011-2012
Industry Reactions - Budget 2011-2012
Budget 2010-2011
Budget 2010-2011 Home
Industry Expectations - Budget 2010-2011
Industry Reactions - Budget 2010-2011
Contributor's Corner
Bonanza Portfolio
Hemant K Gupta
Krish Bhatt
S A A R T H I
Trinity Investments
Exchange Information
BSE 2009 Holidays
NSE 2009 Holidays
Investor Guide
Depository & Dematerialisation
Grievance Redressal
Investor Guide
SEBI
Trading of Securities
Transfer of Securities
Your Rights
Budget 2009-2010
Budget 2009-2010 Home
Industry Expectations - Budget 2009-2010
Industry Reactions - Budget 2009-2010
Interim Budget 2009-2010 Home
Industry Expectations - Interim Budget 2009
Budget 2008-2009
Railway Budget 2008-2009
Industry Expectations - Budget 2008
Union Budget 2008-2009
Highlights of Budget 2008-2009
Summary of Budget 2008-2009
Industry Reactions - Budget 2008
IPOs
Current IPOs
Past IPOs
IPO Subscription
Mutual Funds
Gold Exchange Traded Fund
MF Unique Holding
Forthcoming Dividends
ELSS Schemes Comparison
Tax Plans
New Fund Offers
Research
Arbitrages
Equity
Market Whispers
Tax Planning
Home
Equity Linked Savings Scheme
Post Office MIS
9% GOI Senior Citizens Savings Scheme
8% Savings (Taxable) Bonds
Kisan Vikas Patra
National Savings Certificate
Public Provident Fund
Stock Report

| More

Mahindra Lifespaces and HDFC Capital Affordable Real Estate Fund-1 announce JV to develop affordable housing projects in India

Posted On: 2017-10-19 00:22:23

Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has partnered with HDFC Capital Affordable Real Estate Fund-1 (HDFC Capital) - a fund managed by HDFC Capital Advisors Ltd, a wholly owned subsidiary of HDFC Ltd, to form a Platform focused on the development of affordable housing projects in India. The Platform will look to rapidly scale up in order to address the demand-supply gap in affordable housing in India, with an estimated development footprint of between 5 to 10 million square feet, depending on the locations selected for its projects, under the Happinest name.

The proposed developments will be undertaken through 'Mahindra Happinest Developers Limited' (MHDL), with a 51:49 equity share between MLDL and HDFC Capital. The first development to be undertaken by the joint platform will be 'Happinest, Palghar', expected to be launched in the H2 of FY18.

MLDL has been present in the affordable housing segment since 2014, through its category brand, Happinest. Over 1,600 units have been launched across the Company's ongoing affordable housing projects in Chennai (Happinest, Avadi) and MMR (Happinest, Boisar), with close to 1,000 homes already handed over till date. Its products are currently priced between Rs 17 lakh - Rs 27 lakh, and offer strategic connectivity and vibrant community living options. In keeping with MLDL's focus on sustainable urban development that is resource-conscious and sensitive to the needs of the environment, each Happinest project is certified by the Indian Green Building Council (IGBC), and utilises environment-friendly and energy-efficient materials and technologies to enable balanced and healthy living. Happinest, Avadi has been conferred India's first IGBC 'Platinum' certification for Green Affordable Housing.

Happinest leverages innovative technologies and value engineering approaches to ensure quality and timely construction in a cost-effective manner. MLDL has also focused on creating an ecosystem for access to home finance for its customers in the segment; this includes partnerships with NBFCs that survey the financial capability of prospective customers, and accordingly approve home loans.

Anita Arjundas, Managing Director, MLDL, said, "Affordable housing is a critical component of quality urban infrastructure as also a growth driver for the real estate industry in India. We are delighted to partner with HDFC Capital in a venture that will leverage the experience and commitment of each organisation, to develop affordable homes that will create sustainable value for our customers, while also addressing the largely unmet demand in this segment.

Vipul Roongta, CEO, HDFC Capital Advisors Ltd, said "The objective of this Platform is to invest in residential affordable housing projects by providing long-term equity. Lack of patient long-term capital is one of the key challenges facing growth and development of low and middle-income housing in India. HDFC Capital's first fund is dedicated to addressing this funding gap by providing long-term equity-oriented capital for development in urban and semi urban peripheral areas. With the affordable housing segment expected to see healthy growth going forward given the impetus provided by the government through various incentives and subventions, this Platform with MLDL is the need of the hour."

Shares of MAHINDRA LIFESPACE DEVELOPERS LTD. was last trading in BSE at Rs.447.9 as compared to the previous close of Rs. 452.85. The total number of shares traded during the day was 3063 in over 78 trades.

The stock hit an intraday high of Rs. 455.5 and intraday low of 446. The net turnover during the day was Rs. 1383021.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Gravita India Ltd Q2 net profit rises to Rs. 14.22 crore
Quess Corp to acquire a majority stake in Tata Business Support Services
Ferro Alloys Corporation Ltd's Board Meeting Rescheduled
ARSS Infrastructure Projects Ltd secures work order of Rs. 87.09 crores
Lancer Container Lines Ltd Board to consider Bonus Shares
Megri Soft Ltd appoints company secretary
ICRA assigns credit rating to HSIL Ltd
Kakatiya Textiles Ltd announces resignation of company secretary
Plastiblends India Ltd calls for Board Meeting on Dec 5, 2017
Asian Fertilizers Ltd calls for Board Meeting on Dec 2, 2017
Gammon Infrastructure Projects Ltd appoints Director
Seqrite enters into a technology collaboration with Jetico to develop World-class Encryption solution
Speciality Restaurants opens new Sigree franchise restaurant at Ranchi
W H Brady & Company Limited calls for Board Meeting on Dec 6, 2017
NBCC India Ltd awards contract to Simplex Infrastructures Ltd
MOIL Ltd appoints non-official independent director
Bhoruka Aluminium Ltd calls for Board Meeting on Nov 24, 2017
Aksharchem India Ltd plans shutdown of CPC Green Plant
Aite Report into Wholesale Banking APIs Gives iGTB Top Rating on all Six Measures
ICRA revises ratings of Sanghvi Movers Ltd
Dion Global Solutions Ltd calls for Board Meeting on Nov 27, 2017
MIRC Electronics Ltd Q2 net profit climbs to Rs. 12.04 crore
Vinyoflex Ltd Q2 net profit drops to Rs. 0.37 crore
TCPL Packaging Ltd Q2 net profit slides to Rs. 5.88 crore
CyberTech Q2FY18 Total Revenue at Rs 254 million, up by 12 % on Q-o-Q basis
Remi Sales & Engineering Ltd calls for Board Meeting on Nov 30, 2017
Remi Process Plant & Machinery Ltd calls for Board Meeting on Nov 30, 2017
Remi Edelstahl Tubulars Limited calls for Board Meeting on Nov 30, 2017
KBS India Ltd calls for Board Meeting on Nov 27, 2017
T&I Global Ltd appoints additional director
RTS Power Corporation Ltd appoints company secretary
Assam Company India Ltd calls for Board Meeting on Nov 28, 2017
Keerthi Industries Ltd calls for Board Meeting on Dec 11, 2017
RTS Power Corporation Ltd calls for Board Meeting on Dec 14, 2017
Hindustan Foods Limited to consider 2nd quarter results on Nov 28, 2017
Asian Hotels West Ltd calls for Board Meeting on Dec 7, 2017
Everest Organics Limited enters US Market
TIPS Industries Ltd calls for Board Meeting on Nov 29, 2017
Sahyadri Industries Ltd reports PAT of Rs. 3.76 crore in Q2
G G Dandekar Machine Works Ltd Q2 PAT at Rs. 2.63 crore
Ashiana Housing Ltd enters into development agreement for project at Jamshedpur
Rane Engine Valve announces Q2 FY18 results
Lyka Labs Ltd's Board Meeting Rescheduled
Ashoka Buildcon Ltd receives NHAI approval for appointed date of Road Project in Vizag
Bhagyanagar Properties Ltd calls for Board Meeting on Dec 1, 2017
Bengal Tea & Fabrics Ltd calls for Board Meeting on Dec 2, 2017
Surana Telecom And Power Limited calls for Board Meeting on Dec 1, 2017
Surana Solar Ltd calls for Board Meeting on Dec 1, 2017
Bhagyanagar India Ltd calls for Board Meeting on Dec 1, 2017
NDTV annoucnes demise of Group CEO


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2017