Mumbai,Mahindra Lifespaces, the real estate and infrastructure development arm of the $7.1 billion Mahindra Group, today announced the launch of Californian style apartments at Aqualily, the premium residential community at Mahindra World City, New Chennai.

Aqualily is being developed by Mahindra Residential Developers Limited - a subsidiary of Mahindra Lifespace Developers Limited in a joint venture with Arch Capital, an Ayala Group Company. Ayala Group is the largest diversified business group of the Philippines.

Located on the fast developing GST Road, at Mahindra World City, Aqualily is a combination of luxury villas and spacious apartments spread across 55 acres nestled on the banks of the Kolavai Lake.

Aqualily comprises 151 luxury villas and 610 lifestyle apartments. The first phase of the development comprising Villas was launched in November 2009. It has been received well by the market and since then over 50 percent of the Villa units have been launched.

Mahindra Lifespaces is now launching the apartments with a choice of 3 and 4 bed room units with floor areas ranging from 1595 sqft to 2286 sqft. The picturesque apartments offer a panoramic view of the perennial Kolavai Lake and the surrounding hills.

Aqualily apartments are designed in Californian style, keeping in mind the luxury and indulgence that customers seek for their lifestyle. Residents can enjoy the multitude of gardens, the 2.5 acre central park and a lake front promenade. The Club house equipped with modern amenities and a lake view lounge is the cynosure of the development. Residents will also have access to facilities like the Mahindra World School, an Apollo clinic, a commercial complex, all within walking distance. It is also in close proximity to Paranur station.

Ms. Anita Arjundas, MD & CEO, Mahindra Lifespace Developers Limited said, When the Aqualily project was launched in November 2009, we had committed to provide an international ambience with the complete ecosystem of work, living and learning spaces to an entire gamut of customers. The launch of Villas helped us deliver this promise to a section of home buyers and through the launch of Apartments we aim at fulfilling this commitment to a larger section of the community. We continue in our endeavor to bring to the forefront, a balanced mix of modernity and nature; style and comfort in all our projects.

Mr. Richard Yue, Chief Executive Officer of ARCH Capital commented,As we have done in our projects in China, Macau and Thailand, Arch Capital is proud to bring new and innovative lifestyle concepts and products to the local market. Designed by world-class architects, the Aqualily apartments offer the California lifestyle to a wider segment in Chennai. Aqualilys pre-certified Gold rating from the Indian Green Building Council for the design of a modern and green residential product makes this offering more special.

This is consistent with Arch Capitals mission to promote sustainability practices in our investments across Asia, many of which are lifestyle and mixed-use in nature.

Ayala is recognized for its leadership and commitment to Sustainable Development. Indirectly through Arch Capital and, more recently, through its direct participation in the Tianjin Eco-city project in China, these initiatives are now being migrated overseas.

In keeping with Mahindra Lifespaces intent to ensure sustainable development, Aqualily is pre certified Gold by the Indian Green Building Council (IGBC).

Mahindra Lifespaces ongoing projects include Aura and Chloris in NCR, Splendour and Eminente in Mumbai, and Royale in Pune. The forthcoming projects are at Nagpur, Hyderabad, Mumbai, Pune, and Chennai. For more details on the Aqualily project, please visit: http://mahindraaqualily.com/

Notes to Editor

About Mahindra World City, Chennai

Mahindra World City, New Chennai, is Indias first integrated business city and corporate Indias first operational Special Economic Zone (SEZ). Mahindra World City, New Chennai is promoted in a public-private partnership between US$ 7.1 billion Mahindra Group and TIDCO (A Govt. of Tamil Nadu Undertaking).

Mahindra World City is spread over 1550 acres and offers the perfect synergy between life and work - a holistic WORK-LIVE-LEARN-PLAY environment. It has clearly demarcated business zones - three sector-specific SEZs (IT and ITES, Auto Ancillary, Apparel and Fashion Accessories) and a Domestic Tariff Area. It also has a residential/commercial zone which incorporates all modern conveniences as part of its social infrastructure.

Mahindra World City, New Chennai has attracted over 50 customers from across the world, including such corporate giants as BMW, B Braun, Infosys, Wipro, Capgemini, Renault-Nissan, Timken Bearings, TVS Group of Companies, Lincoln Electric, Parker Hannifin, Tesa Tapes, among others.

32 companies have started operations and around 20,000 persons are currently employed. Exports touched Rs 2300 crores in 2009 - 10 and investments were around Rs 2500 crores till April 2010. For more details: www.mahindraworldcity.com

About Mahindra Lifespace Developers Ltd

Mahindra Lifespace Developers Ltd (previously known as Mahindra Gesco Developers Ltd) has been in the forefront of creating sustainable urban communities in the country. A part of the US $ 7.1 billion Mahindra Group, the company enjoys a reputation of being the pioneer in the development of integrated business cities and delivering quality living spaces that not only offer its customers healthy living but also the comfort of fair and transparent dealings backed by the trust and credibility of the Mahindra Group. The Company has developed residential and commercial properties in Mumbai, Pune, NCR, Chennai and the Mahindra World Cities at Chennai and Jaipur. Mahindra Lifespaces has been ranked amongst Indias Top Ten Builders in the Year 2010 in a perception based survey conducted by Construction World.

About Arch Capital

ARCH Capital is a private equity real estate fund management firm with an active project and asset management platform focused on regional property developments and investments. Through a strategic partnership with the Ayala Group, ARCH Capital brings together the strengths of an established investment team with experience in managing a US$6 billion portfolio and Ayalas 175-year tradition of dedication to excellence and integrity. Based in Hong Kong, ARCH has investments in China, Thailand, India and Singapore.

About Ayala Corporation

Ayala is one of the largest Philippines conglomerates with leadership positions in real estate, banking, telecommunications, electronics/IT and water infrastructure. Ayala Land, a group subsidiary, is the countrys largest fully-integrated developer with a land bank of over 4,000 hectares and 1.5 million sqm of commercial properties under management.