Ajmera Realty acquires Luxury Ghatkopar Land in Mumbai for Rs. 51 crore

Ajmera Realty & Infra India has acquired a 1,341.1 sq meter land parcel in Mumbai’s Ghatkopar East for Rs. 51 crore, with plans to develop a luxury housing project expected to generate Rs. 175 crore in revenue. The company made this announcement in a statement on January 30.

The land was secured through a competitive bidding process with KJ Somaiya Trust.

According to the company, the project will offer a carpet area of approximately 44,000 sq ft and is projected to have a gross development value (GDV) of Rs. 175 crore.

"With the earnest money paid and a memorandum of understanding (MoU) in place, the project is expected to yield around 44,000 sq ft of carpet area and an estimated GDV of Rs. 175 crore," the company stated.

Ajmera Realty emphasized that this acquisition strengthens its foothold in the Central Mumbai market and aligns with its strategy to deliver premium residential developments that cater to evolving customer needs.

The company highlighted Ghatkopar East as a well-established residential hub with increasing demand for spacious, high-end homes. This prime location presents a strong opportunity for launching an ultra-luxury housing project.

Given the growing preference for premium, high-configuration apartments in the area, the company believes the project will cater to affluent buyers seeking upscale living standards.

Dhaval Ajmera, Director of Ajmera Realty & Infra India, stated that acquiring this land is a significant step in the company’s long-term expansion into key real estate markets across Mumbai. He highlighted Ghatkopar as an increasingly desirable location for homebuyers in the eastern suburbs and emphasized that the outright acquisition, supported by strong cash flow, reinforces the company’s growth strategy.