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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.