MLD for south Mumbai deals
Mahindra Lifespaces Developers (MLD), the real estate arm of the Rs30,000 crore Mahindra Group, is eyeing the south and central Mumbai property market. The company, which is into building large housing projects, has until now stayed away from the redevelopment boom in Mumbai.
The south and central Mumbai property market has seen heightened activity since the government vacated additional floor space index (FSI) to accommodate taller buildings.
Since then, large investments have been made by developers, including Peninsula, Indiabulls, Unitech and DLF. The company has stayed away from densely populated areas because of high costs and a conscious effort to create a branding image.
MLD has built all its residential projects as sustainable, green buildings and the cost of commercially sustainable green technologies have started falling as more developers begin designing and building such structures.
Sustainable architecture consists of a series of steps that include planning for optimum light and air, least usage of air-conditioning and recycling and reuse of products generated during construction or during occupancy.