Ajmera Luxe Realty (ALRPL), a joint venture between Ajmera Realty & Infra India (ARIIL), and Keystone Realtors (Rustomjee) will execute a redevelopment project in Bandra West. Both companies will hold a 50% stake in the project, which is expected to generate a gross development value (GDV) of Rs 760 crores. The project endeavor aims to deliver premium luxury residential apartments with an estimated carpet area of approximately 130,000 sq ft for sale.
The core objective of this collaboration is to present a distinctive and premium offering in the upscale locale of Bandra.
Boman Irani, CMD, Rustomjee, said, “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. We aim to provide residents with an elevated quality of life through upscale conveniences. Urban rejuvenation or redevelopment as a format has worked well for us and reflects homebuyers’ trust in us.”
Dhaval Ajmera, director, Ajmera Realty, said, “Positioned to seize the growing demand, we strategically diversify our portfolio across Mumbai’s luxury landscape. This entails fortifying our position and aligning with the company’s long-term growth strategy, centered on low-capex acquisitions.”
