Ajmera Realty & Infra India Limited has announced the redevelopment of Ascot Co-operative Housing Society Limited in Shastri Nagar, Mumbai. This project, spanning 2,319 sq. mt., is set to generate an estimated sales revenue of Rs 320 crores. The redevelopment aligns with Ajmera’s strategy to diversify its portfolio and expand its presence in Mumbai’s growing micro-markets.
Strategic Redevelopment in a Prime Location
The redevelopment project of Ascot Co-operative Housing Society Limited is a significant step for Ajmera Realty, marking their commitment to enhancing urban living in Mumbai. Situated in the bustling Shastri Nagar area of Andheri West, the project encompasses a total land area of 2,319 sq. mt. This prime location not only has historical ties to the Ajmera Group, which originally developed the area, but it also offers a wealth of amenities. The project is expected to deliver approximately 71,300 sq. ft. of carpet area, catering to the rising demand for modern residential spaces in suburban Mumbai. With a projected sales revenue of Rs 320 crores, the project is a key component of Ajmera’s ambitious growth plan.
Enhancing Urban Living Through Modern Amenities
This redevelopment project is designed to elevate the living standards of its residents. Shastri Nagar is renowned for its access to a variety of social, educational, healthcare, and commercial amenities. Residents will benefit from proximity to recreation centres, respected medical facilities, and top-tier educational institutions. The area is also well-connected to major retail and business hubs, bolstered by excellent metro connectivity. These features contribute to the desirability of Shastri Nagar as a prime residential neighbourhood, making the project a valuable addition to Ajmera Realty’s portfolio.
Dhaval Ajmera, Director at Ajmera Realty, emphasized the company’s dedication to revitalizing high-potential micro-markets. He stated, “This project reinforces our commitment to revitalizing high-potential micro-markets through strategic redevelopment.” The focus on asset-light acquisitions and modern urban living is central to Ajmera’s strategy, ensuring that they remain at the forefront of the real estate sector.
Future Impact of the Redevelopment Project
The redevelopment of Ascot Co-operative Housing Society is poised to have significant implications for both Ajmera Realty and the Shastri Nagar community. As urban living continues to evolve, projects like this will cater to changing residential needs and boost local economies.
