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.
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