Property developers Ajmera Realty & Keystone Realtors form Ajmera Luxe Realty, a joint venture for a Rs 760 crore luxury residential redevelopment project in Mumbai's Bandra West. The companies share a 50% stake in the venture, aiming to elevate aging housing societies and contribute to the city's urban rejuvenation. With a focus on low-capex acquisitions, Ajmera Realty plans for fivefold growth, aligning with the government's initiatives to boost redevelopment in Maharashtra. Despite challenges, Mumbai's property market achieves record highs in 2023, driven by luxury and mid-income segments.
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