Ajmera Realty to redevelop four residential societies in Mumbai’s Borivali

MUMBAI: Ajmera Realty & Infra India (ARIIL) has undertaken the redevelopment of four societies at Yogi Nagar, Borivali West, Mumbai.

The project is estimated to generate sales of Rs. 330 crore and will primarily consist of residential apartments of 2 & 3 BHK flats, with an estimated carpet area of 1,07,000 sq ft.

The company has obtained letter of Intent from these societies. The project is scheduled for launch in the first half of 2024, with an estimated completion duration of three and a half years.

Dhaval Ajmera, director of the company said, “Redevelopment offers an intriguing path for both qualitative and quantitative residential growth, addressing the challenges posed by the scarcity of land for densely populated cities like Mumbai.

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.”