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Ajmera To Invest Rs 300 Crore In Bangalore Realty Space


Ajmera To Invest Rs 300 Crore In Bangalore Realty Space

Last updated: June 18 2007
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  • Ajmera To Invest Rs 300 Crore In Bangalore Realty Space

    M Rochan, Bangalore, June 18, 2007
    The Economic Times (Mumbai edition)

    Real estate major Ajmera Group, part of the $450-million Mumbai-based Ajmera Group of Companies, is looking to expand its footprint in Bangalore in a big way. The company’s plans entail investing close to Rs 300 crore on residential developments in the city over the next two years.

    To begin with, Ajmera will launch its premium residential offering Ajmera Arista in the city. Located at HRBR Layout, Arista comprises about 20-25 apartments with each unit priced upwards of Rs 1 crore. Further, the company proposes to develop an integrated township in Bangalore — Ajmera Infinity — in close proximity to the city’s IT hub. “The company has acquired an 18-acre patch at Electronic City for the township project. Initially, we intend to develop about 1.8 million square feet of residential space on the property, located 1 km from the Wipro campus,” said Dhaval Ajmera, director, Ajmera Group of Companies.

    The group is also in the process of acquiring land in Bangalore for its future projects. “We have zeroed in on a couple of properties in and around the city. We expect to pick up the same in the next six-eight months, after which the group will double its current investment outlay, taking the total investment to roughly Rs 600 crore,” added Ajmera. So far, the group has invested Rs 100 crore on real estate projects in Bangalore
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