Friday, March 29, 2024
HomeNewsTop NewsAjmera Realty to invest Rs 110 crore to redevelop a housing society

Ajmera Realty to invest Rs 110 crore to redevelop a housing society

"The company will invest approximately Rs 110 crore to redevelop the housing project as part of its plan to expand footprint and build residential properties in key prime markets of Mumbai," Ajmera Realty said in a statement.

Ajmera Realty & Infra India Ltd to invest Rs 110 crore to redevelop a housing society in Mumbai. The company has executed a development agreement to undertake redevelopment of Fairyland Co-operative Housing Society, located at Juhu in Mumbai.

“The company will invest approximately Rs 110 crore to redevelop the housing project as part of its plan to expand footprint and build residential properties in key prime markets of Mumbai,” Ajmera Realty said in a statement.

The investment will be funded through a mix of debt and equity. The total sales value is estimated at Rs 150 crore.

Mumbai-based Ajmera Realty will construct 39 flats, of which 24 will be provided to existing tenants. The remaining 15 flats will be available for sale to new buyers.

The company’s director Dhaval Ajmera said: “A large number of the old buildings in Mumbai are beginning to see deterioration in their structures. There is an opportunity to re-purpose the old residential projects into new real estate assets with amenities and wellness quotient in accordance to the contemporary relevance.”

RELATED ARTICLES

Most Popular

Hot News

Customer Satisfaction Survey Template
Please help us improve our products/services by completing this questionnaire.

Would you recommend this company to a friend or colleague?

Clear selection

Overall, how satisfied or dissatisfied are you with our company?

Clear selection
Part 2/4: Service/Product Assessment

Which of the following words would you use to describe our products/services? Select all that apply.

Clear selection

How would you rate the quality of the website? (from 1 to 10)*

Clear selection
Part 3/4:Customer Care

How responsive have we been to your questions or concerns about our products/services?

Clear selection

At what email address would you like to be contacted?

Clear selection
Part 4/4: Additional Feedback

Do you have any other comments, questions, or concerns?

Clear selection