Thursday, July 25, 2024

Ajmera Realty and Rustomjee Group Forge Alliance for Rs 760 Crore Bandra Redevelopment Project

Ajmera Luxe Realty Private Limited (ALRPL), a joint venture between Ajmera Realty & Infra India Limited (ARIIL) and Keystone Realtors Limited (Rustomjee Group), has unveiled a Bandra West redevelopment project with an ambitious gross development value (GDV) target of Rs 760 crore. Both companies will share a 50 percent stake in the project.

The joint venture aims to deliver premium luxury residential apartments with an estimated carpet area of approximately 1,30,000 sq ft for sale. The collaboration combines the strengths of Ajmera Realty and Rustomjee to present a distinctive and premium offering in the upscale locale of Bandra.

Dhaval Ajmera, Director of Ajmera Realty, highlighted the commitment to transforming aging housing societies into contemporary residential assets, providing customers with a premium lifestyle. The joint venture with Rustomjee is seen as a significant step forward in fulfilling this commitment.

The strategic partnership aims to leverage the expertise and resources of both companies to deliver a unique product that stands out in the market. Bandra, known for its prestige in homeownership, is expected to experience a surge in housing demand, further accentuated by concurrent infrastructure projects within the city.

Boman Irani, Chairman & Managing Director of Rustomjee, emphasized the commitment to transforming locations into top preferences for discerning buyers. The partnership with Ajmera Realty is seen as reinforcing this dedication, establishing a symbiotic relationship that benefits the city, existing homeowners, and potential buyers alike.

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