Ajmera Realty to invest Rs.900-Cr to develop residential project in Mumbai's Wadala

Ajmera Realty and Infra India is planning to invest over INR 900 crore to develop a residential project as part of its 100-acre master layout in central Mumbai's Wadala locality. The financing of the project will be supported through a mix of internal accruals, construction finance loan from HDFC and sales advances. The project with around 0.5 million sq ft carpet area is estimated to derive sales value of INR 1,500 crore. The development will be part of ongoing project Ajmera i-Land township and will comprise 540 residential apartments across two wings.