Ajmera Realty secures redevelopment project for 4 societies in Mumbai’s Borivali

  • 10 months ago
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Ajmera Realty Secures Redevelopment Project in Mumbai’s Borivali

This project is estimated to generate sales of Rs 330 crore and will primarily consist of residential apartments of 2 and 3 BHK flats, with an estimated carpet area of 1,07,000 Sq.ft, the filing added.

Mumbai: Ajmera Realty has secured a redevelopment project for four societies in Yogi Nagar, Borivali, Mumbai. The aim of the project, as per regulatory filings, is to generate sales of Rs 330 crore. Yogi Nagar is a part of the township project development and will see four societies undergo redevelopment. The project will primarily consist of 2 and 3 BHK residential apartments, covering an estimated carpet area of 1,07,000 Sq.ft. The project is scheduled to launch in the first half of 2024 and will take approximately three and a half years to complete.

Borivali West, the location of the project, is home to a variety of social, educational, and healthcare amenities, including amusement parks, recreation centers, hospitals, and educational institutions, as well as retail and commercial establishments. The centralized location of this suburban micro-market is surrounded by established residential neighborhoods, making it a highly desirable location.

This project will cater to the needs of the residents with revolutionary homes and a modern lifestyle, without compromising on their trusted vicinity. This step is in sync with our macro vision of the group to tap the potential of fastest-growing micro markets and focus on a good mix of redevelopment, JV /JDAs asset light acquisitions along unlocking the owned land bank value. By enhancing our launch pipeline, we aim to further accelerate our 5-fold growth strategy to be delivered.

Dhaval Ajmera, Director of ARIIL

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