Affordable Housing

Terrified with the thought of having your own property in & around Mumbai? Not anymore! With realty majors like Mahindra Lifespaces & Housing Development Infrastructure Ltd. (HDIL) venturing into the affordable housing segment, 1BHK & 2BHK flats are being made available to consumers ranging from 11 lakh to 21 lakh.
Mahindra Lifespaces hitherto operated in the medium to premium housing sector only. In the phase II of the “affordable housing segment”, the company has commenced the construction of its two pilot projects in Boisar & Chennai.
The first phase which the company launched around Diwali last year has already seen more than 300 flats being sold, Mahindra Lifespaces said in a statement. “The flat sizes are roughly between 351 sq. feet  to 762 sq feet with 351 sq. feet being 1 room, kitchen and and 762 sq. feet being 2 BHK (bedroom, hall, kitchen).
In phase II, around 240 flats were launched & opened for booking in March 2015. The price bracket in the first phase was “almost” the same as phase II.
“We are looking to expand further in Maharashtra”, Mahindra Lifespaces said. The company is trying to find the right fit of the land as all these land parcels have to be well connected to the city centres.
Another City based realtor, Housing Development Infrastructure Ltd (HDIL) has announced a project in Kurla under the affordable housing space. The project, Premier Legend, offers 1 and 2 BHK flats with amenities like dedicated kids play area, gymnasium and landscaped garden, the company said in a press release. The project has got all the necessary approvals and housing loan facilities are also available from leading institutions.
“We aim at providing a luxurious experience & uncompromised leisure with our spacious apartments & top class amenities”, HDIL vice-chairman and managing director Sarang Wadhawan said in the release. The strategic location of the project and proximity to airports, railway stations, educational institutes and hospitals is an added advantage for the end buyer,” he stated.