Mahindra & Mahindra Ltd.

Business conglomerate Mahindra & Mahindra plans to make an entry into the affordable housing segment with homes priced up to Rs 10 lakh across many cities in the country. The company however declined to share further details such as when the company will launch the first such project and what could be the size of the investment involved. Mahindra Lifespace Developers is the realty arm of Mahindra & Mahindra and presently caters to the middle and high-end housing segment. It is developing various projects in the National Capital Region, Chennai, Mumbai and Pune. It has already completed many projects in these places.The definition of affordable homes varies between different developers. The company is targeting to build houses up to Rs 10 lakh in larger cities and for Tier-II and III cities, it will be in Rs 5-7 lakh range. The company is planning to develop houses with sizes varying between 400 square feet and 450 sq feet. It is targeting a construction cost of Rs 700-800 per square foot. The company is looking for areas that will have better connectivity with employment opportunities.