Ajmera Luxe Realty Private Limited (ALRPL) and Keystone Realtors Limited (Rustomjee Group) have partnered for a ‘premium’ redevelopment project in Mumbai’s upscale Bandra West area which is expected to generate a gross development value (GDV) of ₹760 crore.
The project will deliver premium luxury residential apartments with an estimated carpet area of 1,30,000 sqft for sale, a press note issued by Ajmera Realty said. Both Ajmera and Keystone hold a 50% stake in the project.
“Our unwavering commitment to elevating aging housing societies into a contemporary residential asset class and offering our customers a premium lifestyle remains a driving force. Positioned to seize the growing demand, we strategically diversify our portfolio across Mumbai's luxury landscape. The collaboration with Rustomjee in this joint venture (JV) for redevelopment marks a significant leap forward in fulfilling this commitment,” said Dhaval Ajmera, Director, Ajmera Realty.
Rustomjee-Ajmera Partnership
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The main objective of this partnership is to present a distinctive and premium offering in the upmarket space of Bandra. By leveraging the collective strengths of Ajmera Realty and Rustomjee, the JV aims to deliver a unique product that stands out in the market, the company statement said.
Bandra: A Booming Prime Location For Real Estate Giants
Bandra, being one of the most prestigious locations for homeownership, is poised to witness a surge in housing demand, further accentuated by concurrent infrastructure projects within the city, the statement added.
“At Rustomjee, we have been transforming locations into top preferences for discerning buyers. Bandra has been one of the key markets where we have delivered multiple marquee projects. This partnership with Ajmera Realty serves to reinforce our dedication to this mission,” said Boman Irani, chairman & managing director, Rustomjee.
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