Shree Yogi Realcon, a 100% subsidiary of Ajmera Realty & Infra India (ARIIL), has acquired property from Tata Communications. The plot is owned by MHADA by executing the tripartite agreement.
The acquired land is spread across 1,721 sq.mt., where a residential property is to be constructed with a potential carpet area of ~95,000 sq ft and estimated to generate a sales value of Rs 250 Cr over three 3 years with conservative price points.
Dhaval Ajmera, director, Ajmera Realty & Infra, said, “The acquisition of Pantnagar land is in alignment with the company’s vision of its 5x growth plan which targets a revenue potential of ~INR 4,000cr over the next 3-5 years. Ghatkopar, Pantnagar is poised to become a lucrative destination for the homebuyers with its newly planned infrastructure development. Supporting the above factors, we remain positive, attributing towards the economic growth trajectory of India.”
The superstructure will constitute two wings in the configuration of 2, 3 and 4 BHK, having ~100 units with all the modern lifestyle amenities. With the recent shift of the work from home and walk to work concept, demand for mid-segment to luxury housing will drive the demand for this project.
Ajmera Realty & Infra India Ltd will continue to widen its project developmental scale from existing owned land parcels and by acquiring a new databank through its robust JV/JD/DM model. The velocity achieved in residential sales is likely to sustain in the long term. With the growing demand for quality homes, an opportunity to expand in new micro-markets has become conducive.
