ARIIL expands portfolio: Mumbai, Bengaluru ventures unveiled
Real Estate

ARIIL expands portfolio: Mumbai, Bengaluru ventures unveiled

Ajmera Realty & Infra India (ARIIL) has expanded its real estate holdings with the inclusion of two residential ventures, one in Mumbai and another in Bengaluru. These two projects together boast an estimated cumulative gross development value (GDV) of Rs 4.7 billion.

In Mumbai, ARIIL's 85% subsidiary, Anirdesh Developers, has inked a development agreement with the landowner for an SRA redevelopment project located on LBS Marg in Bhandup. Spanning 6.8 acres, this project has a potential sales area of approximately 1 million sq-ft, to be developed in phases. The initial phase, covering around 1.7 lakh sq-ft (carpet area), has a GDV of Rs 3.2 billion. All necessary approvals have been secured, and the first phase is now fully vacated, indicating its readiness for development. This marks the inception of our affordable portfolio, catering to the sub-1 crore segments, slated for launch in December 2023.

In Bengaluru, ARIIL's wholly-owned subsidiary, ARIIL SPV, owning 70% stake, has entered a joint development agreement with the landowner for a residential project in Electronic City phase 2. This strategically located project holds a total development potential of approximately 2.43 lakh sq-ft. The SPV anticipates contributing Rs 1.5 billion to its revenue, with a carpet sales area of about 1.62 lakh sq-ft. Positioned within 5 km from Electronic City, the project benefits from a strategic location and robust metro connectivity. With a proven track record of delivering over 2,000 units in the city, we are set to launch this new project by January 2024.

Ajmera Realty & Infra India (ARIIL) has expanded its real estate holdings with the inclusion of two residential ventures, one in Mumbai and another in Bengaluru. These two projects together boast an estimated cumulative gross development value (GDV) of Rs 4.7 billion. In Mumbai, ARIIL's 85% subsidiary, Anirdesh Developers, has inked a development agreement with the landowner for an SRA redevelopment project located on LBS Marg in Bhandup. Spanning 6.8 acres, this project has a potential sales area of approximately 1 million sq-ft, to be developed in phases. The initial phase, covering around 1.7 lakh sq-ft (carpet area), has a GDV of Rs 3.2 billion. All necessary approvals have been secured, and the first phase is now fully vacated, indicating its readiness for development. This marks the inception of our affordable portfolio, catering to the sub-1 crore segments, slated for launch in December 2023. In Bengaluru, ARIIL's wholly-owned subsidiary, ARIIL SPV, owning 70% stake, has entered a joint development agreement with the landowner for a residential project in Electronic City phase 2. This strategically located project holds a total development potential of approximately 2.43 lakh sq-ft. The SPV anticipates contributing Rs 1.5 billion to its revenue, with a carpet sales area of about 1.62 lakh sq-ft. Positioned within 5 km from Electronic City, the project benefits from a strategic location and robust metro connectivity. With a proven track record of delivering over 2,000 units in the city, we are set to launch this new project by January 2024.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000