Updated January 23rd, 2024 at 11:30 IST
Ajmera Realty and Rustomjee Group to redefine Bandra skyline with Rs 760 crore project
In this collaboration, both Ajmera Realty and Rustomjee Group will jointly hold a 50% stake in the project.
Mumbai makeover ahead: Ajmera Realty & Rustomjee Group have announced plans for a redevelopment project in Mumbai's Bandra West with a Gross Development Value (GDV) target of Rs 760 crore.
In this collaboration, both Ajmera Realty and Rustomjee Group will jointly hold a 50 per cent stake in the project. The focus of the venture is on delivering premium luxury residential apartments, boasting an estimated carpet area of approximately 130,000 sq ft, which will be made available for sale, as per the statement issued by ARIIL.
Dhaval Ajmera, Director of Ajmera Realty, highlighted the firm's focus on transforming ageing housing societies into contemporary residential assets, providing customers with an upscale lifestyle.
The primary objective of this partnership is to present a premium offering in the upscale Bandra locale.
Bandra is anticipated to experience a surge in housing demand, further propelled by ongoing infrastructure projects in the city, as highlighted in the statement.
Boman Irani, Chairperson & Managing Director of Rustomjee, emphasised the transformation of locations into top preferences for discerning buyers, particularly in Bandra.
Published January 20th, 2024 at 13:20 IST