Ajmera Realty Signs 6.8 acre Joint Venture Deal in Bhandup, Mumbai

Ajmera Realty Signs 6.8 acre Joint Venture Deal in Bhandup, Mumbai

Ajmera Realty Signs Deals for Residential Projects in Mumbai and Bengaluru. Ajmera Realty & Infra India Ltd (ARIIL) announced the signing of two new residential joint venture deals, one in Mumbai and one in Bengaluru, with a combined gross development value (GDV) of Rs 470 crore. Ajmera Realty Signs 6.8 acre Joint Venture Deal in Bhandup, Mumbai

Mumbai Project Details:

• Location: LBS Marg, Bhandup
• Developer: Anirdesh Developers Pvt Ltd (subsidiary of ARIIL)
• Land Area: 6.8 acres
• Sales Potential: 1 million sq ft (to be developed in phases)
• Initial Phase: 1.7 lakh sq ft with a GDV of Rs 320 crore
• Project Status: Approvals secured, first phase fully vacated, ready for development
• Launch Target: December 2023
• Market Segment: Affordable housing (below Rs 1 crore)
• Significance: Marks the beginning of Ajmera Realty’s affordable housing portfolio targeting first-time homebuyers in Mumbai’s central suburbs.

Quote:

Dhaval Ajmera, Director, Ajmera Realty: “The central suburbs of Mumbai are attracting first-time homebuyers. With the rising demand for mid-segment housing, we’re well-positioned to cater to the affordable housing market. We expect strong sales due to our established presence in central Mumbai.”

 

 

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