Mumbai, July 2023: Agami Realty, the real estate development arm of the Agami Group, has entered into an agreement to redevelop a housing society in Mumbai’s posh locale of Kalanagar, Bandra East.
The project to be developed on the land parcel spread over 0.25 acres is estimated to offer Agami Realty a development potential of about 1 lakh sq. ft. and a free-sale component of about 45,000 sq. ft. This may translate into a revenue potential of over Rs. 225 crores as per the prevailing pricing trends in the micro-market according to the market sources.
The project will be a boutique residential development conceptualized with ‘Art & Sustainability’ as its foundation. The 22-storied edifices are being designed by renowned architect Reza Kabul and it offers stunning 2.5 and 3-bed lavish residences with sky decks.
Speaking on the occasion, Mr. Prashant Khandelwal, CEO – of Agami Realty said, “Society redevelopment is the most excellent opportunity in Mumbai today and we would like to leverage our expertise in developing quality and climate-smart real estate developments.”
The project is strategically located in the heart of Mumbai’s most buzzing and opulent neighborhood – BKC Annex. This locality due to its proximity to BKC has drawn many bigwigs and CXOs – the who’s who of the corporate world. The area also offers excellent connectivity and surrounding social infrastructure with top-notch education institutions, healthcare facilities, clubs, and high street retail.
Agami Realty is set out on a mission to revolutionize the built environment and enhance people’s quality of life. Their vision is to foster climate-conscious communities and redefine the integration of nature in design, architecture, and construction. Agami Realty’s endeavor is to develop energy-efficient green buildings that reduce carbon footprint by adopting measures such as energy generation, energy efficiency, electric mobility, and climate-responsive architecture. Agami Realty was among the first ones to develop a residential township with an IGBC Platinum rating in the year 2010. By setting new standards and adopting an innovative approach, they aim to inspire the creation of smarter homes, smarter communities and actively contribute to a greener, more sustainable, and resilient urban landscape.
Agami Realty has been in the business of real estate for over five decades now. They have successfully delivered over 25 projects across the MMR region translating into over 25 lakh sq. ft. The company currently has four ongoing projects with a total area of 5 lakh sq. ft.It has four upcoming projects in the pipeline with a potential development area of about 10 lakh sq. ft. Agami Realty has a legacy of delivering high-quality homes, building trust, adhering to complete transparency and accountability with a focus on being a customer-oriented brand.