Ajmera Realty inks pact to redevelop 0.5-acre housing society in Mumbai’s Andheri

Ajmera Realty & Infra India Ltd (ARIIL) has entered into an agreement to redevelop a housing society spread over more than half an acre in Mumbai’s western suburb Andheri west.

The project is expected to generate an estimated sales revenue of Rs 320 crores, with a total estimated carpet area of about 71,300 sq ft. The proposed redevelopment project is in Shastri Nagar that was originally developed by the Ajmera Group.

With this project, the company has added four new projects with a total gross development value of around Rs 2,770 crores, the company said in a regulatory filing.


“This project reinforces our commitment to revitalizing high-potential micro-markets through strategic redevelopment, joint venture / joint development agreement models and asset-light acquisitions,” said Dhaval Ajmera, director, ARIIL.

The project aligns with Ajmera Realty’s strategy to diversify its portfolio led by inorganic growth through asset-light acquisitions, including an increasing focus on redevelopment projects.