Shree Yogi Realcon, a subsidiary of Ajmera Realty & Infra India Limited (ARIIL), has bought a land parcel measuring 5,017 sqm from Tata Communications in a bidding process for Rs 76 crore. The land parcel is intended for a residential development offering 1, 2 and 3 BHK apartments, with an estimated gross sales value of Rs 550 crore.
Located in Vikhroli East, the upcoming project is situated close to Airoli, Thane and South Mumbai. The land acquisition signals the potential launch of this project in FY 2024.
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.”
