Ajmera Realty to Develop Next Phase of Ajmera i-Land in Mumbai

Ajmera Realty and Infra India Ltd. is developing the next phase of its residential project in Wadala, part of the 100 acres master layout of Ajmera i-Land in Mumbai. The project has approximately 5,00,000 sq. ft. carpet area for sale, with funding avenues for the said project coming in from a mix of internal accruals, construction finance loan from HDFC Limited, and sales advances. With an estimated sales value of INR 1500 Crores, the project plot will comprise 540 residential flats and 18 retail shops. The construction of the project will comprise of two wings, aggregating to 540 residential flats, which will be within close proximity of a huge 25 acres garden, which is also located within the Township. The 2BHK and 3BHK apartments configuration ranges from 750 – 794 RERA CA and 977 – 1225 RERA CA respectively. Construction of the project has begun and is expected to be completed in five years. The project is designed by prominent architect Hafeez Contractor. Commenting on the launch of the new project, Dhaval Ajmera, Director of Ajmera Realty and Infra India Ltd., said “Over the last one decade, Wadala has seen significant growth in terms of its value proposition and the infrastructure developments have spelled positive implications on the housing market. Going forward, Wadala is expected to undergo a radical transformation and is expected to be one of the prime beneficiaries of infra-oriented transit development happening in the city of Mumbai. Wadala also connects commercial districts of the city like Chembur, Nariman Point, Ballard Estate, and BKC. Due to its proximity to the eastern freeway, eastern express highway, monorail, and the upcoming metro-4 corridor, Wadala has emerged as one of the most preferred locations in Mumbai. Another highlight in Wadala’s infrastructural framework is MMRDA’s plan to revolutionize its monorail depot, first walk-to-work hub of Mumbai.”