Mahindra Lifespace Developers and HDFC Capital Advisors, will be developing their first joint affordable housing project at Palghar in Maharashtra, with apartments in the range of Rs.8-24 lakh.

Mahindra Lifespace has associated with HDFC Capital Affordable Real Estate Fund-1, in October last year, for creating Rs.500 crore platform for development of affordable housing projects throughout the country.

In a statement, Mahindra said that the company has launched ‘Happinest-Palghar’, which is the first affordable housing project to be undertaken by the joint platform. Further, this is a 8-acre project and comprises approx 850 apartments, with price range of approx Rs.8-24 lakh.

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