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Shree Yogi Realcon, a wholly-owned subsidiary of Ajmera Realty & Infra India (ARIIL), has acquired land admeasuring 5,017 sq meters in Vikhroli-East, Mumbai, from Tata Communications for Rs 76 crore in a bidding process, the company said in a BSE filing.
The acquisition is intended for the residential development offering 1/2/3 BHK, with an estimated gross sales value of Rs 550 crore.
Dhaval Ajmera, director, ARIIL said, “This acquisition aligns with the 5x growth strategy and has expanded our launch pipeline for the current fiscal year to include four projects with the potential to generate an estimated total sales value of Rs 2,570 crore.”Launch of this project is expected in FY24.
