ARIIL expands Mumbai, Bengaluru footprint with redevelopment projects
ECONOMY & POLICY

ARIIL expands Mumbai, Bengaluru footprint with redevelopment projects

Ajmera Realty & Infra India (ARIIL) has secured the role of developer for the Balkrishan Co-operative Housing Society in Versova, Mumbai. The redevelopment initiative is expected to yield sales worth approximately Rs 3.6 billion and will primarily feature 3 BHK residential apartments with an estimated carpet area of around 90,700 sq ft.

Dhaval Ajmera, the company's director, emphasised the growing significance of transforming aging housing societies into modern residential spaces, reflecting the evolving interests of homebuyers in the Mumbai Metropolitan Region (MMR). He views this redevelopment project as a strategic move for ARIIL, aligning with their ambition for 5x growth through joint ventures, joint development agreements, and low capital expenditure acquisitions via inorganic strategies.

In a significant development in September 2023, Anirdesh Developers, a subsidiary of ARIIL, inked a development agreement for an SRA redevelopment project located on LBS Marg in Bhandup, Mumbai. Encompassing 6.8 acres, this project holds a sales potential of approximately 1 million sq ft, planned for phased development. The initial phase, covering around 1.7 lakh sq ft, is valued at approximately Rs 3.2 billion and is set to be launched in December 2023.

Additionally, ARIIL's subsidiary, ARIIL SPV, joined forces with a landowner through a joint development agreement, acquiring a 69% stake for a residential project in Electronic City Phase 2, Bengaluru. Commencing in September 2023, the project boasts a total development potential of approximately 2.43 lakh sq ft, with an expected revenue boost of around Rs 1.5 billion. The project aims to deliver a carpet sales area of about 1.62 lakh sq ft.

Ajmera Realty & Infra India (ARIIL) has secured the role of developer for the Balkrishan Co-operative Housing Society in Versova, Mumbai. The redevelopment initiative is expected to yield sales worth approximately Rs 3.6 billion and will primarily feature 3 BHK residential apartments with an estimated carpet area of around 90,700 sq ft. Dhaval Ajmera, the company's director, emphasised the growing significance of transforming aging housing societies into modern residential spaces, reflecting the evolving interests of homebuyers in the Mumbai Metropolitan Region (MMR). He views this redevelopment project as a strategic move for ARIIL, aligning with their ambition for 5x growth through joint ventures, joint development agreements, and low capital expenditure acquisitions via inorganic strategies. In a significant development in September 2023, Anirdesh Developers, a subsidiary of ARIIL, inked a development agreement for an SRA redevelopment project located on LBS Marg in Bhandup, Mumbai. Encompassing 6.8 acres, this project holds a sales potential of approximately 1 million sq ft, planned for phased development. The initial phase, covering around 1.7 lakh sq ft, is valued at approximately Rs 3.2 billion and is set to be launched in December 2023. Additionally, ARIIL's subsidiary, ARIIL SPV, joined forces with a landowner through a joint development agreement, acquiring a 69% stake for a residential project in Electronic City Phase 2, Bengaluru. Commencing in September 2023, the project boasts a total development potential of approximately 2.43 lakh sq ft, with an expected revenue boost of around Rs 1.5 billion. The project aims to deliver a carpet sales area of about 1.62 lakh sq ft.

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