In a groundbreaking collaboration, Ajmera Realty and Rustomjee Group have unveiled ambitious plans to reshape Mumbai’s Bandra West with a redevelopment project boasting a Gross Development Value (GDV) target of Rs 760 crore. The partnership aims to deliver premium luxury residential apartments, marking a significant transformation in the upscale Bandra locale.
The joint venture, where both Ajmera Realty and Rustomjee Group will hold a 50 per cent stake, focuses on introducing contemporary residential assets with an estimated carpet area of approximately 130,000 sq ft. These upscale living spaces will be made available for sale, as revealed in a statement issued by Ajmera Realty & Infra India Limited (ARIIL).
Dhaval Ajmera, Director of Ajmera Realty, highlighted the company’s commitment to revitalizing ageing housing societies, offering customers an upscale lifestyle. The collaboration’s primary objective is to present a premium residential offering in the sought-after Bandra neighborhood.
The Bandra region is expected to witness a surge in housing demand, driven further by ongoing infrastructure projects in the city, as indicated in the official statement. This strategic partnership aims to capitalize on the growing demand for high-end residential spaces in one of Mumbai’s most coveted locales.
Boman Irani, Chairperson & Managing Director of Rustomjee, underscored the importance of transforming locations into top choices for discerning buyers, particularly in Bandra. The project aligns with the group’s vision of creating distinctive living spaces that cater to the evolving preferences of the modern homebuyer.
As the Mumbai skyline prepares for a remarkable transformation, this collaboration between Ajmera Realty and Rustomjee Group is poised to set new standards in luxury living, enhancing the city’s real estate landscape.
