Ajmera Realty -; Infra to undertake a project worth Rs1500cr at Wadala

17 Jan 2022 , 11:56 AM

Ajmera Realty & Infra India Ltd., a premium realty developer announced the development of the next phase of its Residential project worth Rs1500cr at Wadala. The project has an 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 loans from HDFC limited, and sales advances.

This project will comprise 540 residential flats and 18 retail shops, generating sales revenue worth Rs 1500 crore.

The construction will be carried out in two segments, with approximately 540 residential flats within close proximity of a huge 25 acres garden, which shall also be located within the township. The 2BHK and 3BHK apartments configuration ranges from 750 – 794 RERA CA and 977 – 1225 RERA CA respectively.

The company has initiated the construction of the Project and it is expected to be completed within five years. The said property is located within close proximity of well-reputed educational institutes.

Over the decade, the company has gained itself a significant reputation as a destination developer of Wadala. It has augmented sales worth Rs 2000 crore and 1.3 billion sq. ft. area in Wadala. Ajmera Realty and Infra India Ltd. have recorded a sales value of INR 625 Crores at the time of the pandemic (April 2020- September 2021) in Wadala, significant sales by any standard.

“Over the last 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,” stated Dhaval Ajmera, Director of Ajmera Realty, commenting on the launch of the new Project.

He further added, “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.”

Yet another highlight of Ajmera’s infra framework includes MMRDA’s plan to revolutionize its monorail depot, the first walk-to-walk hub of Mumbai, said the company.

Ajmera Realty & Infra India Ltd is currently trading at Rs 429.30 up by Rs 20.4 or 4.99% from its previous closing of Rs 408.90 on the BSE. The scrip opened at Rs 420 and has touched a intraday high and low of Rs 429.30 and Rs 402 respectively.