Birla Estates Acquires 24.5 Acres of Land in Mumbai from Hindalco Industries for ₹537.42 Crore
Birla Estates, the real estate arm of the Aditya Birla Group, has acquired a significant land parcel in Mumbai Metropolitan Region (MMR) from Hindalco Industries for ₹537.42 crore.
Birla EstatesHindalco IndustriesLand AcquisitionMumbai Real EstateAditya Birla GroupReal Estate MumbaiSep 12, 2024
According to a report by real estate consultant Square Yards, Ekamaya Property Pvt Ltd, a wholly-owned subsidiary of Birla Estates, acquired the 99,021.47 square meter (~24.5 acres) land parcel. The deal was finalized in September 2024 and involved the purchase from Hindalco Industries Limited. The transaction included a stamp duty of ₹37.61 crore and a registration fee of ₹30,000.
The acquisition is a strategic move by Birla Estates to expand its presence in the Mumbai real estate market. The company has been actively acquiring land parcels in the region to develop residential and commercial projects.
Hindalco Industries Limited, a leading aluminum and copper manufacturing company, had approved the sale of the land parcel to Birla Estates in July 2024. The company had signed and registered definitive agreements for selling the land parcel on September 4, 2024.
This acquisition is not the only significant land deal made by Birla Estates in recent times. Earlier this month, the company acquired approximately 10 acres of leasehold land in Worli, Mumbai, from Nusli Wadia for ₹1,100 crore. The deal merges the existing lease interest to full ownership.
The Aditya Birla Group is a multinational conglomerate with a presence in various sectors, including cement, chemicals, textiles, and real estate. Birla Estates is the group's real estate arm, which focuses on developing residential and commercial projects in key cities across India.
Information
Aditya Birla Group is a multinational conglomerate with a presence in various sectors, including cement, chemicals, textiles, and real estate. The group was founded by Seth Shiv Narayan Birla in 1857 and has since grown into a diversified business conglomerate.
Birla Estates is the real estate arm of the Aditya Birla Group. The company focuses on developing residential and commercial projects in key cities across India.
Frequently Asked Questions
Who acquired the 24.5 acres of land in Mumbai from Hindalco Industries?
Birla Estates, the real estate arm of the Aditya Birla Group, acquired the land parcel.
What is the value of the land acquisition deal?
The deal is valued at ₹537.42 crore.
Where is the land located?
The land is located at Kalwa, along the Thane-Belapur Road in Mumbai.
Who is the parent company of Birla Estates?
Birla Estates is a subsidiary of the Aditya Birla Group.
What is the significance of the land acquisition deal?
The deal is a strategic move by Birla Estates to expand its presence in the Mumbai real estate market.
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