Ajmera Realty & Infra India’s 100% subsidiary -- Shree Yogi Realcon has acquired a land parcel admeasuring 5017 sq. mt. from Tata Communications 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.
Ajmera Realty & Infra India is primarily engaged in real estate development. Its real estate business caters to the mid and hi-end housing segments. It also operates in the hospitality and entertainment, which includes dome theatres, retail and malls, etc.
