Mahindra Lifespace, SBI to create platform on home finance

Mahindra group realty firm Mahindra Lifespace Developers today announced a partnership with State Bank of India (SBI) to set up a platform for providing quicker and convenient financing of home purchases. The establishment of a market-focused platform will provide information and bespoke home buying solutions for customers across India, the company said in a statement.

Mahindra Lifespace Developers Ltd has projects in 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 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,” it added.

“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,” company’s MD Anita Arjundas said.

“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,” said MG Vaijinath, Chief General Manager (Real Estate & Housing Business), State Bank of India.

The company’s residential and commercial development footprint includes 13.15 million sq ft of completed projects and 9.61 million sq ft of ongoing and forthcoming projects.

State Bank of India