Team News Riveting
Mumbai, April 22
Shree Yogi Realcon Private Limited, a 100 per cent subsidiary of Ajmera Realty and Infra India Limited (ARIIL) has acquired a land parcel admeasuring 5017 sq. mt. from Tata Communications Limited in a bidding process for a total consideration of Rs 76 crore, on payment of earnest money.
The acquisition is intended for the residential development offering 1/2/3 BHK, with an estimated gross sales value of Rs 550 crore.
Located in Vikhroli East, the upcoming project possesses a prime location with proximity to Airoli, Thane and South Mumbai, as it is located along the eastern express highway and within walking distance of the nearest Vikhroli railway station. With its strategic location and contemporary offerings, is a preferred residential choice for prospective buyers in the area. The land acquisition marks the initial step in the project, signaling the potential launch of this project in FY 2024.
The land acquisition is a part of Ajmera Realty’s growth strategy, to continue broadening its scope in newer micro-markets across the Mumbai & MMR region, where residential sales have accelerated and is
expected to grow further. The demand for quality homes and better lifestyles, coupled with infrastructure
development, has led to new opportunities for growth in the housing sector, which Ajmera Realty is keenly
exploring.
Commenting on the development, Dhaval Ajmera, Director – ARIIL said, “We are excited to announce
our latest land acquisition in Vikhroli, which aligns with our objective of strengthening our footprint across real estate micro markets in Mumbai & MMR market. This micro-market at Vikhroli is strategically well-located and holds immense potential, with a favorable market environment. We are bullish that this step will help us garner an approximate sales potential of INR 550 crores, fostering the company’s overall
growth.”
“This acquisition aligns with the 5x growth strategy and has expanded our launch pipeline for the current fiscal year to include four projects with the potential to generate an estimated total sales value of
Rs 2570 crore. This dynamic market scenario has presented us with new opportunities for housing growth that Ajmera Realty is eager to explore, and we are steadfast in our commitment to delivering quality homes that cater to the evolving needs of our customers.
Ajmera Realty & Infra India Limited (ARIIL) is one of the trusted names having its PAN India presence. The
Company has a huge development potential available on its balance land parcel at Ajmera I-Land, Bhakti
Park, Wadala and Central Mumbai. Current projects are at Mumbai: “Manhattan”, “Greenfinity”, “Sikova”
and “Prive”, along with various projects at Bengaluru: “Ajmera Nucleus”, “Ajmera Lugaano”, “Ajmera
Florenza”. The Company is focused on premium developments in luxury and mid-luxury projects in the
residential segment.
The Group works on Trust and delivers the trusted decisions of buyers. The GenNext of the Group believes in “KEEP EVOLVING” and accordingly the strategies, systems, processes, planning and use of cutting-edge technologies have been resorted to enable the Company to deliver targeted value to all its stakeholders.
