Mumbai, February 06, 2025 – Ajmera Realty & Infra India Ltd (ARIIL) has successfully acquired a 1,341.1 sq metre land parcel in Ghatkopar East for ₹51 crore. The company intends to develop a luxurious residential project with an estimated revenue of ₹175 crore, marking a significant expansion in the central Mumbai market.
Secured through a competitive bidding process with KJ Somaiya Trust, the acquisition is expected to yield a carpet area of approximately 44,000 sq ft. The gross development value (GDV) of the project is estimated at ₹175 crore, reflecting the company's strong vision for high-end, premium living spaces.
Strategic Expansion in Ghatkopar
Ghatkopar East, known for its rising demand for spacious, upscale living spaces, has become a hotbed for luxury developments. The area is well-established with a growing appetite for premium residential offerings, making it an ideal location for Ajmera Realty’s next ultra-luxury housing project.
Dhaval Ajmera, Director of Ajmera Realty and Infra Ltd, expressed, “This acquisition strengthens our position in the central Mumbai market and furthers our commitment to delivering world-class residential projects. We believe Ghatkopar’s evolving profile presents an excellent opportunity for ultra-luxury living.
Luxury Living in Eastern Suburbs
Ghatkopar, as a micro-market, has seen a rapid rise in real estate demand, attracting homebuyers seeking high-end apartments. The average per sq ft price in the area ranges from ₹25,000 to ₹33,000, with 2 BHK rental apartments commanding between ₹45,000 and ₹70,000 per month, depending on the building’s age and location.
The new development will cater to the increasing demand for premium, high-configuration apartments in the eastern suburbs of Mumbai. Ajmera Realty’s long-term goal is to expand into key real estate hotspots, and this acquisition aligns with their broader growth strategy aimed at achieving 5x growth in the coming years.
Future Growth Plans
Ajmera Realty’s acquisition in Ghatkopar East is part of a broader strategy to cater to the growing demand for premium housing while reinforcing its footprint in Mumbai’s fast-evolving suburbs. The company’s commitment to expanding its portfolio is evident in its proactive approach to acquiring prime land for luxury developments.
“This move aligns perfectly with our vision of achieving 5x growth as we remain focused on delivering exceptional value to our stakeholders and seizing new opportunities within the real estate sector,” added Dhaval Ajmera.
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