Mahindra Happinest, Happinest Kalyan, Industry first  innovations, Mahindra Happinest Developers Limited, HDFC Capital Affordable Real Estate Fund, New BKC, Bhiwandi-Kalyan Corridor, Arvind Subramanian, Dombivali Mankholi Road, Indian Green Building Council, IGBC, Mahindra

Mahindra Happinest strengthens focus on affordable housing

Happinest Kalyan with industry-first innovations in affordable housing gathers 500+ applications in the first week

Mahindra Happinest Developers Limited (Mahindra Happinest), a joint platform between Mahindra Lifespace Developers Ltd. (MLDL) and HDFC Capital Affordable Real Estate Fund-1 (HDFC Capital), has renewed its focus on affordable housing with a new promise - ‘Live, Smile and Prosper’. In order to cater to the evolving, young unstoppable Indians who aspire for a bigger and better life for themselves, Mahindra Happinest aims to act as the catalyst for aspiring home buyers - ensuring that the size of dreams, aspirations and ambitions are not constrained by the size of their wallet.

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The brand also announced the success of its recently-launched affordable housing project, Happinest Kalyan - which received over 500+ applications within a week of its launch. The project was launched in a record time of 8 days from the date of the land acquisition.

Strategically located on the Bhiwandi-Kalyan Corridor (New BKC), Happinest Kalyan comprises seven, 14 and 22 storeyed towers, with 1,241 homes in 1BHK and 2BHK configuration spread across nine acres. Homes in the project are priced between Rs.29.95 lakh and Rs.55.70 lakh. The project is registered with Maharashtra Real Estate Regulatory Authority (MahaRERA)[1].

Arvind Subramanian, CEO, Mahindra Happinest, said, “Home buyers are looking for spectacular homes within an attractive budget. So far they have had to choose one or the other.  At Happinest, we seek to break this dichotomy.  Driven by deep customer research, our products have several features that delight the customers by addressing even their unarticulated needs.  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. We believe that ongoing maintenance cost is as important as the purchase cost of a home, and we have designed our development which requires significantly lower upkeep and running expense. Customers have responded enthusiastically, with over 500 families registering with us in the first week of the launch.”

The residents of Happinest Kalyan will enjoy great road-rail-metro connectivity access to reputed schools, colleges, business hubs, hospitals and markets. The project also provides convenient access to railway stations, and the proposed Rajnouli metro station (Metro Line 5). The future infrastructure in the vicinity of the project includes a 126km-long 12-lane Virar-Alibaug multi-modal corridor, Mumbai-Nagpur Samrudhi Mahamarg, Delhi-Mumbai Industrial Corridor, Dombivali Mankholi Road - which will enhance connectivity and open avenues for further infrastructure creation and employment growth.

Keeping in mind the day-to-day needs of the residents, the project also offers a host of modern amenities, including a crèche, medical, pre-school, dedicated jogging and cycling tracks. Happinest Kalyan encompasses industry-first features and amenities such as ‘MySeries’, co-created pay-per-use amenities such as study rooms, mini theatre, a performing arts space, storage facilities, that will be provided based on the needs expressed by the residents and their business viability. Ultrasonic water meters in each home will help monitor water usage and aid residents in avoiding water wastage. Real-time monitoring of the STP will help optimise performance and mitigate risk of breakdowns. 

Maintaining the focus on environment-friendly homes that boost user health and well-being and promote sustainable urbanisation in India, Happinest Kalyan is designed to maximise natural light and ventilation. The efficient layout also allows more usage area inside the room by avoiding wastage of space. The project houses about 1,200+ trees and reduces the carbon footprint during the construction phase by up to 44% by sourcing all the construction materials within a 150km radius.

The project has been pre-certified ‘Gold’ by the Indian Green Building Council (IGBC) and will offer benefits of significantly lower maintenance costs. It has been designed to be friendly for the differently-abled and incorporates resource-efficient elements such as solar power lighting in common area, aerators in faucets and showers; recycled water for flushing, xeriscaping, treated organic waste, etc.

In an industry-first launch scheme, the project offers a Multiplier Rebate Plan (MRP), whereby all customers who register for the launch will benefit as the total demand for homes increases; and those who register earlier benefit more. All homes of Happinest meet the qualifying criteria under the Pradhan Mantri Awas Yojna, on the basis of which eligible customers can avail loan interest subsidy upto Rs.2.67 lakh.

Arvind Subramanian, CEO, Mahindra Happinest

Arvind Subramanian
Chief Executive Officer, Mahindra Happinest
Arvind Subramanian leads the affordable housing business of the Mahindra Group. Mahindra Happinest has over 16 lakh sq-ft under various stages of development across Chennai and Mumbai, with a strong pipeline for growth in these cities as well as in Pune and Bengaluru. More than 1,000 families live in Happinest communities, which are distinguishing themselves on thoughtful design, high-quality execution and timely delivery.

Subramanian started his professional career with the Tata Administrative Service, the central management cadre of the Tata Group, and was regional CEO at a leading real estate developer prior to joining the Mahindra Group. He holds an MBA from the Indian Institute of Management, Ahmedabad and a B.Tech. from the Indian Institute of Technology, Madras. His interest in the intersection between business growth and social impact dates back to his time as a partner & director at Boston Consulting Group. At BCG, he was the global topic leader for the ‘Next Billion Consumers’, picked by Financial Times as one of The Fifty Ideas That Shaped Business Today. He was also tasked with setting up and leading the Centre for Customer Insight which integrated proprietary consumer insight research with strategy development. He led the Technology Media and Telecom practice at BCG in India for several years. Subramanian has been a frequent speaker at industry events and conferences, and has authored several op-eds, articles and reports on ‘Digital India’ and the ‘Next Billion Consumers’.

About Mahindra Happinest Developers Ltd

Mahindra Happinest was founded with the vision to provide remarkable, low-cost, high-quality homes to the emerging middle class. They have made home ownership more affordable by reducing the cost and time within which they build their projects while maintaining high quality standards. This has been made possible through better design and the use of innovative technologies and contemporary construction methods. Mahindra Happinest offers homes that are built to maximise utility per square foot so that you and your family have ample space to grow. Learn more about Mahindra Happinest at www.mahindrahappinest.com

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