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Mahindra Lifespaces and State Bank of India sign MoU to provide seamless experience to homebuyers

Posted On: 2021-01-13 07:26:55 (Time Zone: Arizona, USA)


Mahindra Lifespaces, the real estate and infrastructure development arm of Mahindra Group, and State Bank of India (SBI), India's largest home loan lender, today signed a Memorandum of Understanding (MoU) to enable an improved and more seamless experience for homebuyers across India. As part of the agreement, which includes various co-promotional activities and outreach initiatives, customers and employees of SBI and Mahindra Lifespaces will be able to avail the benefits of faster home loan processing and approvals, and special discounts and schemes.

The MoU was signed by Mr. Arvind Subramanian, Managing Director and CEO, Mahindra Lifespaces and Mr. Shreekant, Chief General Manager and Head of the Real Estate vertical of State Bank of India.

Mr. Arvind Subramanian, Managing Director and CEO, Mahindra Lifespace Developers Ltd. said, "We are delighted to partner with State Bank of India to make Mahindra homes more conveniently accessible to customers and employees of both companies. Our partnership is aligned to our joint goal of enabling home ownership and boosting customer confidence through innovatively designed, greencertified homes and accelerated credit delivery."

Mr. Shreekant, Chief General Manager and Head of the Real Estate vertical of State Bank of India said, "State Bank of India has already approved Mahindra Lifespaces projects across MMR, Bengaluru, Pune, Chennai and Nagpur. With this partnership, homebuyers stand to benefit by saving on the expenses incurred on obtaining TIR (Title Investigation Report) and valuation, for approved projects. A shorter turn-around-time on sanctioning of such loans is one of our key USPs."

Mahindra Lifespaces is continually innovating in its homes and offerings to improve the homebuying experience. In line with the Company's focus on environment-friendly, healthy living, all Mahindra Lifespaces homes are certified 'green'; and incorporate waste management, and water and energy conservation measures.

Shares of MAHINDRA LIFESPACE DEVELOPERS LTD. was last trading in BSE at Rs.403 as compared to the previous close of Rs. 392.55. The total number of shares traded during the day was 2496 in over 290 trades.

The stock hit an intraday high of Rs. 403 and intraday low of 384. The net turnover during the day was Rs. 986574.


Source: Equity Bulls

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