📋 Tender Overview
Scope : Development Residential Complex in Vikhroli East in Mumbai, Maharshtra
Shree Yogi Realcon, a 100 per cent subsidiary of Ajmera Realty & Infra India, has acquired a land parcel measuring 5,017 sq. mtrs. in Vikhroli East in Mumbai from Tata Communications in a bidding process at a price of Rs 76 crore.
The acquisition is intended for residential development which will be designed with one, two and three-BHK configurations, with an estimated gross sales value of Rs 550 crore. Its strategic location and contemporary offerings will be the high points for prospective buyers in the area, and the land acquisition makes way for the potential launch of this project in the financial year (FY) 2024.
The site offers proximity to Airoli, Thane and South Mumbai, as it is located along the eastern express highway and very close to the Vikhroli railway station.
The project is a step forward in expanding the developer's scope in newer micro-markets across the Mumbai & MMR region, where the requirement for quality homes and better lifestyles, coupled with infrastructure development, has led to new opportunities for growth in the housing sector. Overall, the new acquisition aligns with Ajmera's 5x growth strategy, and has expanded its launch pipeline for the current FY to include four projects with the potential to generate an estimated total sales value of Rs 2,570 crore.
