Birla Estate Subsidiary Acquires Prime Land Parcel in Mumbai MMR for Rs 537 Crore
Birla Estates' subsidiary, Ekamaya Property Private Limited, has acquired a 24.5-acre land parcel in Kalwa, Mumbai MMR, for Rs 537.42 crore. The area is witnessing rapid growth due to its proximity to key hubs and improving infrastructure.
Birla EstatesMumbai MmrReal EstateLand AcquisitionAditya Birla GroupReal Estate MumbaiSep 12, 2024
The area is experiencing rapid growth due to its proximity to key hubs and improving infrastructure. Kalwa has emerged as an attractive residential destination, benefitting from its close connection to Thane, one of India’s most active real estate markets, and Navi Mumbai, a growing employment hub.
The acquisition was made by Ekamaya Property Private Limited, a wholly-owned subsidiary of Birla Estates Private Limited. The transaction, finalised in September 2024, involved the purchase from Hindalco Industries Limited. The deal included a stamp duty of Rs 37.61 crore and a registration fee of Rs 30,000.
Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards, said, “We are witnessing leading developers strategically positioning themselves across key markets, acquiring significant land parcels. This aligns with the growing demand for office spaces as well as residential apartments in gated communities as homebuyer preference have shifted towards projects that offer a range of amenities and open spaces.
Birla Estates has a strong geographical footprint, with residential and commercial developments across Mumbai MMR, Pune, Bengaluru, and Delhi NCR. As per Square Yards data insights, Birla Estates ranked third in the Mumbai MMR amongst developers with the highest registered home sales values during the April-June quarter of 2024, recording transactions worth Rs. 1,126 crore.
According to Birla Estate’s Q4 FY2024 report, the firm has an impressive pipeline of 18 million square feet area across projects with an estimated gross development value of Rs. 32,000 crore.
About Birla Estates Birla Estates is the real estate venture of the Aditya Birla Group, one of India's largest conglomerates. The company has a strong presence in the Indian real estate market, with a focus on developing residential and commercial projects.
About Square Yards Square Yards is a leading real estate consulting firm, providing services in the areas of residential and commercial property sales, leasing, and advisory.
Frequently Asked Questions
What is the value of the land parcel acquired by Birla Estates' subsidiary?
The land parcel is valued at Rs 537.42 crore.
Where is the land parcel located?
The land parcel is located in Kalwa, along the Thane-Belapur Road, in the Mumbai Metropolitan Region (MMR).
What is the size of the land parcel?
The land parcel spans 99,021.47 square meters (nearly 24.5 acres).
Who is the seller of the land parcel?
The seller is Hindalco Industries Limited.
What is the significance of this acquisition for Birla Estates?
This acquisition strengthens Birla Estates' presence in the Mumbai MMR and aligns with the growing demand for office spaces and residential apartments in the region.
Related News Articles
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.