Ajmera Realty to develop residential project in Wadala

Ajmera Realty and Infra India have announced that the company will develop the next phase of the residential project in Wadala as a part of its 100-acre master layout of Ajmera i-land in Mumbai.

The project will spread across a 5,00,000 sq ft carpet area and the construction finance loan will be acquired from HDFC Bank and sales advances. The residential plot will have 540 flats and 18 retail shops with an estimated sales value of Rs 1,500 crore.

The project will have construction work of two wings, totalling 540 residential flats, which will be close to the 35 acres garden located within the township.

The configuration of the apartments for 2BHK and 3BHK will range from 750-794 Real Estate Regulatory Authority carpet area (RERA CA) and 977-1225 RERA CA, respectively. The construction work has started, and the project is expected to complete within five years. Hafeez Contractor is designing the project.

The company has done sales worth more than Rs 2,000 crore and total sales of 1.3 million sq ft in Wadala over the last decade. In Wadala, it registered a sales value of Rs 625 crore from April 2020 to September 2021 at the time of the Covid pandemic.

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