Moneycontrol PRO

This affordable housing project in Mumbai's Kalyan has sold 1,000 units amid lockdown

Nearly 80 percent inventory in Mahindra Happinest Kalyan project has been sold in nine months despite COVID-19

Mahindra Happinest, the affordable offering from Mahindra Lifespace Developers, has sold 1,000 apartments or nearly 80 percent of the total inventory in its project ‘Happinest Kalyan’.

The project reached the milestone in nine months since its launch, notwithstanding four months of lockdown-induced slowdown.

Strategically located on the Bhiwandi-Kalyan Corridor, Happinest Kalyan comprises seven 14 and 22 storied towers, with 1,241 homes in 1 BHK and 2 BHK configuration spread across nine acres.

Homes in the project are priced Rs. 31.05 lakh onwards. Additionally, Happinest Kalyan customers were able to avail the benefits of a unique ‘Multiplier Rebate Plan’ (MRP) with cost benefits for early bookings. The project is registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA).

All Mahindra Happinest homes meet the qualifying criteria under the Pradhan Mantri Awas Yojana, basis which eligible customers can avail loan interest subsidy up to Rs. 2.67 lakh.


“We are delighted with the positive customer response to Happinest Kalyan.  The success of the project despite lockdown restrictions indicates robust pent-up demand for quality homes by trusted brands with a track record of offering great value.  This hopefully signals an impending revival in high-potential real estate markets across India,” said Arvind Subramanian, Managing Director and Chief Executive Officer, Mahindra Lifespace Developers.

Happinest Kalyan leveraged a ‘digital-first’ approach during launch, where all bookings were accepted only online and nearly 80 percent of booking payments were made online.

In an industry-first innovation, homebuyers at Happinest Kalyan were provided with an option to choose among a set of unique amenities via the ‘MySeries’ offering.

The pay-per-use amenities at Happinest Kalyan is based on a combination of customer choice and economic viability. The project is pre-certified ‘Gold’ by the Indian Green Building Council (IGBC) and offers benefits of significantly lower maintenance costs due to power saving and water-saving fixtures, the company said.

Moneycontrol News
first published: Aug 27, 2020 01:15 pm
ISO 27001 - BSI Assurance Mark