Mahindra mulls foraying into affordable housing segment

Mahindra mulls foraying into affordable housing segment with homes priced up to Rs 10 lakh across many cities in the country.

The firm is carrying out a study on development of affordable homes.The company is targeting to build houses up to Rs 10 lakh in larger cities and between Rs 5 lakh and 7 lakh for Tier-II and III cities. It is planning to develop houses with sizes varying between 400 square feet and 450 sq feet.

Banking on its efficient batch of engineers, the firm hopes to build flats at a construction cost of Rs 700-800 per square foot