Mahindra Lifespace, SBI to create platform on home finance

Mahindra Lifespaces and State Bank of India announced partnership to offer customers a platform for quicker and convenient financing of home purchases

Mahindra Lifespace Developers Ltd, the real estate and infrastructure development arm of the Mahindra Group, announced a partnership with State Bank of India (SBI) for the establishment of a market-focused platform that will provide information and bespoke home buying solutions for customers across India.

As part of the Memorandum of Understanding (MoU) signed, the two companies will collaborate to provide exclusive home ownership solutions for customers serviced by each other.

Commenting on the occasion, Anita Arjundas, Managing Director, Mahindra Lifespace Developers Ltd said, “Both Mahindra Lifespaces and State Bank of India invoke a strong association with trust and transparency among home buyers across India. Our tie-up with State Bank of India will bolster our ongoing efforts to ease the home buying process for our customers, and is closely aligned to SBI’s mission to create products and services that will help intending home buyers achieve their goals.”

M.G. Vaijinath, Chief General Manager (Real Estate & Housing Business), State Bank of India added, “SBI and Mahindra Life Spaces have come together to give a unique platform to harness the synergies of two well-known brands. This MoU will provide a structured platform for information sharing, promotional campaigns and project specific tie-ups, which will help in creating higher value for customers.”

Mahindra Lifespace has created residential and integrated large format developments across multiple city-clusters – Mumbai Metropolitan Region (Mumbai, Thane, Palghar, Alibaug and Boisar), Pune, Nagpur, Ahmedabad, Nashik, the National Capital Region (New Delhi, Gurgaon and Faridabad), Jaipur, Hyderabad, Bengaluru and Chennai.

As of December 31st, 2016, the company’s residential and commercial development footprint includes 1.22 million sq.m. (13.15 million sq ft) of completed projects and 0.89 million sq. m. (9.61 million sq. ft.) of ongoing and forthcoming projects.

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