Ajmera Realty and Infra India will invest Rs 900 crore to develop a residential project within the 100 acres master layout of Ajmera i-land in Wadala, the company said in a BSE filing.
The project has approximately 5 lakh 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 company estimates sales of Rs 1,500 crore from the project, which will comprise 540 residential flats and 18 retail shops. It will offer 2BHK and 3BHK apartments configuration with carpet area ranging from 750-794 sq ft and 977-1,225 respectively.
Construction of the project has begun and is expected to be completed in five years. The project is designed by Hafeez Contractor.
Ajmera Realty claims to have recorded a sales value of Rs 625 crore between April 2020 and September
2021 in Wadala.
