Press Release Summary: Mahindra Lifespaces Developers (MLDL), the housing and real estate arm of the $ 7.5 billion (Rs 30,566 crore) Mahindra Group, is planning to enter the business of building low-cost houses for the middle-income group.
Press Release Body: Mahindra Lifespaces Developers (MLDL), the housing and real estate arm of the $ 7.5 billion (Rs 30,566 crore) Mahindra Group, is planning to enter the business of building low-cost houses for the middle-income group. Low-cost houses have become a fad among young people, as they are available at an affordable cost of Rs 25-30 lakh. The company has tied up with BE Billimoria and Co (BEBL), which specializes in construction technology, to bring down construction costs in the long run.
This means, in a horizon of five years, MLDL might be building flats or apartments targeted at the middle-income group. Though the group's current focus is firmly on luxury and premium properties, the company is keenly watching these lower segments. "We are currently studying the opportunity, and we believe that is where the growth will come from," Pawan Malhotra, MD and CEO, MLDL told reporters.
The tie-up with BEBL would be expanded to future projects and at the same time, MLDL would be open to other similar tie-ups in construction technology that would enable them to bring their costs down. "While most sectors in India have constantly upgraded their technological capabilities, real estate firms have lagged behind. We feel that is where the costs can be brought down by at least three to seven per cent," Malhotra added......... For Latest Real Estate News: http://www.maaproperties.com/Pages/ModuleContent.aspx?Module=News
At Maa Properties, we have in-depth knowledge of property markets, extensive experience, specialized skills and resources necessary to provide an entire range of reliable and responsive property management services. No matter how far away you are currently located, our online services enable you to take charge of things and efficiently handle all property-related transactions back home.
We would like to take the opportunity to welcome all the community members living world wide to our real estate portal.(NRI)
For More Information about Real Estate Hyderabad, India visit: http://www.maaproperties.com/
2022
