Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has launched the country’s first net-zero energy project spreading over an area of 7.74 acres in Bangalore involving an investment of ₹500 crore with estimated revenue of ₹600-650 crore. First phase of the project will be completed by April 2027.
MD and CEO, Mahindra Lifespace Developers, Arvind Subramanian, informed that global climate change is one of the most pressing issues and buildings alone are responsible for approximately 36% of the total energy consumption and close to 40% of carbon emissions Building net-zero homes is one of the cornerstones of a reduced carbon future, thereby an important solution to climate change and we are committed to playing a leading role in this energy transition of the real estate sector. While such projects may result in 5% additional cost, the payback in terms of returns will be achieved within 2-3 years and homebuyers would stand to gain at least ₹1,000 per sq ft across the lifecycle of projects. The project, Mahindra Eden, is Mahindra Lifespaces’ second project in Bangalore. Its maiden residential project, Mahindra Windchimes, located on Bannerghatta Road is completed and fully sold out.