The board approved the decision in its meeting on Thursday.
He will succeed Sangeeta Prasad who resigned on February 7 this year. She had worked with the Mahindra group for over 11 years.
Arvind joined the company as Chief Executive Officer of Mahindra Happinest, the affordable housing business, in September 2018.
Arun Nanda, Chairman, Mahindra Lifespaces Developers said, the company is poised for strong growth in a rapidly consolidating market. At Happinest, Subramanian has demonstrated his ability to imagine and engineer a new future for the sector, for the company and for our customers.
Subramanian has over 23 years of experience, starting his professional career with the Tata Administrative Service, the central management cadre of the Tata Group.
He spent close to 15 years with the Boston Consulting Group (BCG) where he was a Partner and Managing Director.
Prior to joining the Mahindra Group, Subramanian was Regional CEO at a leading real estate developer. He holds an MBA degree from the Indian Institute of Management, Ahmedabad, and a BTech degree from Indian Institute of Technology, Madras.
Established in 1994, Mahindra Lifespace Developers is the real estate and infrastructure development business of the USD 20.7 billion Mahindra Group. MJH ANSANS