Birla Estate Subsidiary Makes a Significant Land Acquisition in Mumbai MMR Worth Rs.537 Crore
Birla Estates, the real estate arm of the Aditya Birla Group, has acquired a 24.5-acre land parcel in Kalwa, Mumbai MMR, for Rs.537.42 crore.
Birla EstatesMumbai MmrReal EstateLand AcquisitionSquare YardsReal Estate MumbaiSep 13, 2024
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. These factors make it particularly appealing to working professionals seeking convenient housing options.
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. These high-value deals in the market clearly signal profitable opportunities for developers in both residential and commercial sectors. Additionally, global firms and tech-giants are increasingly expanding their presence in India. The digitization of land records and enhanced transparency have played a key role in boosting stakeholder confidence in the Indian real estate sector.”
The registration document, reviewed by Square Yards, indicates that Ekamaya Property Private Limited, a wholly-owned subsidiary of Birla Estates Private Limited, acquired the 99,021.47 square meter (~24.5 acres) land parcel. The transaction, finalized in September 2024, involved the purchase from Hindalco Industries Limited.
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.
About Square Yards
Square Yards is a leading real estate platform that offers a comprehensive range of services to homebuyers, developers, and investors. With a strong presence in India and internationally, Square Yards provides data-driven insights and expertise to its clients.
About Birla Estates
Birla Estates is the real estate arm of the Aditya Birla Group, one of India's largest business conglomerates. With a focus on developing premium residential and commercial projects, Birla Estates has established itself as a reputable player in the Indian real estate market.
Frequently Asked Questions
What is the value of the land parcel acquired by Birla Estates in Mumbai MMR?
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).
Who is the seller of the land parcel?
The seller of the land parcel is Hindalco Industries Limited.
What is the size of the land parcel?
The land parcel is approximately 24.5 acres (99,021.47 square meters) in size.
What is the significance of this land acquisition for Birla Estates?
This land acquisition is significant for Birla Estates as it strengthens its presence in the Mumbai MMR and provides an opportunity to develop premium residential and commercial projects.
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