AJMERA GROUP BUYS 5.5 ACRES OF LAND IN ELECTRONIC CITY-2, BANGALORE
25th July, 2018: As part of its expansion plans for its 50th year celebrations, country’s leading developer Ajmera Group has acquired 5.5 acres of land at Electronic City -2 in Bangalore. The land has been acquired through their wholly owned subsidiary and has the potential to develop 5.5 lakhs sq.ft, which is likely to generate an approximate revenue of Rs. 300 crores in a span of three years.
The land has been purchased from a private company for Rs.65 Cr and is expected to see an investment of around Rs.200 Cr from the Real Estate Group to develop a mixed used development project, which is likely to launch by the last quarter of this year. The group intends to develop 1 Lakh SqFt of Commercial project along with approximately 4.3 Lakh Sqft of residential property in Electronic City-2.
Shedding more light on the development, Director of Ajmera Group, Mr. Dhaval Ajmera said “All the statutory permissions for the land parcel are in place for us to soon begin work. Keeping the demand of the area in mind we will be developing an IT Park along with a residential property that will have 2 BHK & 3 BHK variants. We will ensure aggressive pricing for the upcoming project to make sure that the buyer gets value for their money”
Ajmera Group has been present in Bangalore for more than a decade and has successfully developed and delivered 2.6 million sq. ft space. Bangalore is one of the key markets for Ajmera Group, especially the Electronic city where Ajmera Group stands as the leader having developed around 20 Lakhs sq. ft. The leading developer has projects at the most prime and upcoming locations of the city such as Kormangala, Electronic city, Bannerghatta Bhanswadi and Yelahanka. Ajmera Group in its 50th year of existence is also set to announce several new projects in Bangalore and is going to aim at becoming one of the leading names in the Bangalore Real Estate Market