Ajmera Realty to redevelop four societies

Ajmera Realty & Infra India (ARIIL) has taken on the redevelopment of four societies in Yogi Nagar, Borivali West, Mumbai. This project is expected to generate approximately Rs. 3.30 billion in sales revenue. It will primarily feature 2 & 3 BHK residential apartments with an estimated carpet area of 1,07,000 sq ft.The company has secured a Letter of Intent from these societies, and the project is set to be launched in the first half of 2024, with an estimated completion timeline of three and a half years.Dhaval Ajmera, Director of the company, stated that redevelopment offers a promising avenue for both qualitative and quantitative residential growth, addressing the challenges posed by land scarcity in densely populated cities like Mumbai.