Ajmera Realty’s Bengaluru Project Achieves 37% Bookings in a Week
Mumbai-based real estate developer Ajmera Realty & Infra India has seen a significant success with its latest residential project in Bengaluru, achieving 37% bookings within a week of its launch.
Bengaluru Real EstateAjmera RealtyResidential ProjectElectronic CityReal Estate MarketReal EstateNov 07, 2024
The project, named Ajmera Iris, is strategically located in the Electronic City, Phase 2 area in southern Bengaluru. It comprises a total of 215 two and three BHK housing units, spanning 4.5 acres of land. The project includes 11 towers, each with B+G+4 floors, and offers over 25 lifestyle amenities, including two clubhouses and swimming pools.
Ajmera Realty sold 59,000 square feet out of the total 1.59 lakh square feet for a value of ₹60 crore, highlighting the strong interest from homebuyers and investors. The project is expected to be completed by December 2026, according to the company’s statement.
The strategic location of Ajmera Iris near major infrastructure, such as Hosur Road and the Bengaluru Metro-Rail Network, adds to its appeal. This proximity to top MNCs and IT hubs makes it an attractive option for professionals and families looking for quality and spacious living.
Dhaval Ajmera, director of Ajmera Realty & Infra India Ltd, commented on the successful launch, saying, “The real estate market of Bengaluru is witnessing a significant rise in demand for quality and spacious living, driven by a robust job market and strong purchasing power in the Startup Hub of India. The idea to launch Ajmera IRIS is influenced by this upbeat sentiment among homebuyers and investors alike. We have witnessed a tremendous response and recorded stellar pre-sales within a matter of days of the launch. A strategic expansion of our portfolio in this micro-market, this venture is in line with our guidance for the year and is a strong testimony to our ambitious 5x growth.”
Ajmera Realty & Infra India Ltd has a strong track record in the real estate sector. Over a span of 55 years, the company has delivered projects spanning over 20 million square feet. Currently, the brand has projects with a footprint of more than 1 million square feet under various stages of development.
In recent financial performance, Ajmera Realty & Infra India Limited reported a 57% increase in its consolidated net profit to ₹35.35 crore in the September quarter, up from ₹22.53 crore in the same period last year. This strong financial performance further strengthens the company’s position in the market and its ability to deliver high-quality projects like Ajmera Iris.
Bengaluru, known as the Startup Hub of India, continues to attract real estate developers due to its robust job market and strong purchasing power. The success of Ajmera Iris is a testament to the growing demand for quality residential projects in the city. With its strategic location, extensive amenities, and strong market performance, Ajmera Iris is poised to be a significant addition to the Bengaluru real estate landscape.
Frequently Asked Questions
Where is the Ajmera Iris project located?
The Ajmera Iris project is located in the Electronic City, Phase 2 area in southern Bengaluru.
How many units are there in the Ajmera Iris project?
The Ajmera Iris project comprises a total of 215 two and three BHK housing units.
What is the expected completion date for the Ajmera Iris project?
The Ajmera Iris project is expected to be completed by December 2026.
How much of the inventory was sold within a week of the project launch?
Within a week of the project launch, Ajmera Realty sold 37% of the inventory, which is 59,000 square feet out of the total 1.59 lakh square feet.
What are some of the amenities included in the Ajmera Iris project?
The Ajmera Iris project includes over 25 lifestyle amenities, such as two clubhouses and swimming pools.
Related News Articles
PBB's Q2 2024 Profits Plummet 74% Amid US Real Estate Crisis
PBB's profits fell sharply due to its exposure to the struggling US commercial real estate market, hit by rising interest rates, falling property values, and high office vacancies.
MahaRERA Conciliation Forums Resolve 1,749 Homebuyer-Developer Disputes
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has successfully resolved 1,749 disputes between homebuyers and real estate developers through its conciliation forums. These forums, established in 2018, have significantly improved the resoluti
Nithin Kamath Expresses Concerns Over Pollution and Luxury Real Estate
Zerodha CEO Nithin Kamath discusses the rising pollution levels in India and their potential impact on the luxury real estate market.
Blackstone-Panchshil Partnership to Construct India's Largest 500 MW Hyperscale Data Hub
Blackstone and Panchshil have announced a major partnership to build India's largest 500 MW hyperscale data center hub in Pune, Maharashtra. This ambitious project marks a significant step towards boosting India's digital infrastructure and attracting glo
Adani Group's Mega Projects in Mumbai Face Environmental Scrutiny
Adani Group is pushing forward with two major projects in Mumbai, one of the world's most expensive real estate markets, amid environmental concerns and regulatory hurdles.
Sohail Khan Earns Rs 10 Crore in Rent from High-Profile Bandra Property
Sohail Khan, a prominent figure in Mumbai's real estate scene, has secured a lucrative five-year lease deal for his property in Bandra. The property, located in one of Mumbai's most upscale neighborhoods, has been rented out to The Irish House Food and Beverages Pvt Ltd. for a staggering Rs 10 crore in rent.