Mumbai-based real estate developer Ajmera Realty & Infra India Limited (ARIIL) has announced its appointment for the redevelopment of Ascot Co-operative Housing Society Limited in Andheri West, Mumbai. The project, which is set to be undertaken in a single phase, is expected to generate an estimated sales revenue of ₹320 crore, marking another significant addition to Ajmera Realty’s expanding portfolio.
Project Overview
The redevelopment project will be carried out on a 2,319 sq. m land parcel in Shastri Nagar, Andheri West. With a total estimated carpet area of approximately 71,300 sq. ft, the redevelopment aims to enhance the residential living standards of the area, offering modern amenities and a premium urban lifestyle.
Ajmera Realty, in its statement, highlighted that Shastri Nagar holds a special connection with the Ajmera Group, as the company originally developed the township. This redevelopment reaffirms its strong presence and brand recall in the micro-market.
Strategic Redevelopment Approach
Ajmera Realty has been focusing on an asset-light growth strategy, leveraging redevelopment projects, joint ventures (JV), and joint development agreements (JDA) to expand its portfolio. With this addition, the company has secured four new projects, accumulating a total Gross Development Value (GDV) of approximately ₹2,770 crores.
Dhaval Ajmera, Director – ARIIL, stated, “We are pleased to undertake the redevelopment of Ascot Co-operative Housing Society in Shastri Nagar, Andheri West, an area that holds a significant place in Ajmera Group’s legacy township development. This project reinforces our commitment to revitalizing high-potential micro-markets through strategic redevelopment, JV/JDA models, and asset-light acquisitions.”
He further emphasized the growing demand for modern urban living, highlighting that the project aims to upgrade existing residential assets with contemporary designs, improved lifestyle amenities, and long-term value appreciation. Ajmera Realty continues to focus on quality-driven and sustainable developments to cater to the evolving needs of homebuyers.
Andheri West: A Prime Residential Hub
Andheri West has emerged as one of Mumbai’s most sought-after residential destinations, offering a well-rounded urban lifestyle. The location provides excellent connectivity through Mumbai Metro, Western Express Highway, and Link Road, while also being home to renowned educational institutions, top medical facilities, shopping malls, and business hubs.
According to local real estate brokers, the price range for residential apartments in Andheri West currently stands between ₹30,000 to ₹50,000 per sq. ft, reflecting the area’s strong real estate demand and investment potential.
Conclusion
The redevelopment of Ascot Co-operative Housing Society aligns with Ajmera Realty’s growth strategy, strengthening its footprint in Mumbai’s high-demand micro-markets. By focusing on redevelopment and asset-light acquisitions, Ajmera Realty continues to enhance residential living standards while ensuring long-term value appreciation for homebuyers and investors.
