Ajmera Realty announces joint development of commercial units

Ajmera Realty & Infra India Limited has announced joint development of commercial units at the project located at Ashok Mills lane, off LBS Marg, Ghatkopar (W) in Mumbai.

This joint development represents a major step forward in realising the company's vision to build a trusted name for the commercial era too, servicing more demands of different genre.

It will be a joint development on revenue sharing basis in Ghatkopar on a plot size of 5,310 sq.mt, which has a potential to develop approximately 9,000 sq.ft of saleable area which may generate revenue of approximately Rs.120 crores for the company. The proposed development is for approximately 225 units.

The turnaround tenure for completion of project will extend up to 3 to 4 years. It is in the heart of LBS, Marg ,Ghatkopar, with ease of connectivity to Metro, railway station and highways too. It is surrounded by shopping complexes and hi-tech commercial towers, which will provide an additional impetus to this project.

On Wednesday, the stock of Ajmera Realty closed at Rs 157.40, down by 1.3 per cent. It made intra-day low of Rs 157.10.