NEW DELHI: Realty developer Ajmera Realty and Infra is developing the next phase of its residential project in Wadala, which is part of the 100 acres master layout of Ajmera i-Land in Mumbai.
With an estimated sales value of Rs 1,500 crore and an estimated cost of Rs 900 crore, the project plot will comprise 540 residential flats and 18 retail shops.
The construction of the project will comprise of two wings, which will be within close proximity of a 25-acre garden, which is also located within the township.
The project has approximately 500,000 sq. ft. carpet area for sale, with funding avenues for the said project coming in from a mix of internal accruals, construction finance loan from HDFC, and sales advances.
The 2BHK and 3BHK apartments configuration ranges from 750–794 RERA CA and 977-1225 RERA CA respectively. Construction of the project has begun and is expected to be completed in five years. The project is designed by prominent architect Hafeez Contractor.
Dhaval Ajmera, Director, Ajmera Realty and Infra, said “Going forward, Wadala is expected to undergo a radical transformation. Wadala connects commercial districts of the city like Chembur, Nariman Point, Ballard Estate and BKC. Due to its proximity to the eastern freeway, eastern express highway, monorail, and the upcoming metro-4 corridor, Wadala has emerged as one of the most preferred locations in Mumbai.”
Over the last decade, Ajmera Realty and Infra has done sales worth more than Rs 2,000 crore and total sales of 1.3 million sq ft in Wadala.
Source: Press Trust of India