MUMBAI: Ajmera Realty & Infra India (ARIIL), a real estate developer, is redeveloping four societies in Yogi Nagar, Borivali West, Mumbai. The project is expected to generate sales of INR 330 Crore and will mainly comprise 2 & 3 BHK residential apartments with an estimated carpet area of 1,07,000 SqFt.
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The company has received a Letter of Intent from these societies. They plan to launch the project in the first half of 2024 and anticipate it will take three and a half years to complete.
Dhaval Ajmera, the director of Ajmera Realty, stated that these redevelopments present an interesting avenue for achieving both qualitative and quantitative residential growth. They aim to address the challenges presented by the shortage of land in densely populated cities like Mumbai.
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