Mumbai, India – In a promising development, Ajmera Realty & Infra India Ltd has officially announced its plans to revamp the residential landscape in Versova, Mumbai. The real estate company anticipates generating a substantial ₹360 crore in revenue from this transformative project.
In a recent regulatory disclosure, the Mumbai-based firm revealed its intention to embark on the “redevelopment of Balkrishan Co-operative Housing Society” located in the heart of Versova. This ambitious undertaking is poised to not only rejuvenate the area but also bolster Ajmera Realty’s financial prospects.
The primary focus of this redevelopment venture will be the creation of luxurious 3 BHK residential apartments, designed to meet the evolving needs of modern homebuyers. With a strong emphasis on quality and innovation, Ajmera Realty aims to provide the Versova community with a contemporary living experience.
The decision to redevelop and modernize older housing societies aligns perfectly with the growing trend in the Mumbai Metropolitan Region (MMR). This shift towards revitalizing existing residential assets has piqued the interest of discerning homebuyers, opening new doors for real estate opportunities.
Dhaval Ajmera, the Director of Ajmera Realty, expressed his enthusiasm for this project, stating, “Redevelopment and repurposing old housing societies into modernized residential asset classes has gained significant prominence in MMR, thus opening doors to newer opportunities backed by redefined interest from homebuyers.” This initiative is a strategic move towards achieving substantial growth through joint ventures, joint development agreements, and low-capital acquisition via an inorganic strategy.
About Ajmera Realty:
Founded in 1985 as Percolated Steels, Ajmera Realty & Infra India is a publicly traded company headquartered in Mumbai, India. It stands as the flagship entity of the Ajmera group, with a total valuation of $450 million. The company’s primary areas of focus encompass realty, construction, cement, steel rolls, and other construction-related enterprises.
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