Birla Estates Acquires 24.5-Acre Land in Mumbai for ₹537.42 Crore
Birla Estates, the real estate arm of the Aditya Birla Group, has purchased a 24.5-acre land parcel in Mumbai for ₹537.42 crore. The plot, located in Kalwa, will be developed into a mixed-use project.
Birla EstatesAditya Birla GroupReal EstateMumbaiLand AcquisitionReal EstateSep 13, 2024
The plot is located at Kalwa, along the Thane-Belapur Road. The registration document, reviewed by Square Yards, indicates that Ekamaya Property Pvt Ltd, 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. The deal included a stamp duty of ₹37.61 crore and a registration fee of ₹30,000.
Earlier this month, Birla Estates Private Limited, a wholly-owned subsidiary of Century Textiles and Industries Limited, had informed that it has acquired land from Hindalco Industries Limited. The company would develop a mixed use project on this plot.
Information
Birla Estates is the real estate arm of the Aditya Birla Group, a multinational conglomerate with a presence in various sectors such as cement, textiles, and chemicals. The company has been expanding its presence in the real estate sector in recent years.
Birla Estates is a part of the Aditya Birla Group, a multinational conglomerate with a presence in various sectors such as cement, textiles, and chemicals. The company has been expanding its presence in the real estate sector in recent years.
Frequently Asked Questions
Who is the parent company of Birla Estates?
Birla Estates is a part of the Aditya Birla Group.
Where is the 24.5-acre land parcel located?
The plot is located at Kalwa, along the Thane-Belapur Road in Mumbai.
What is the value of the land acquisition deal?
The deal is worth ₹537.42 crore.
Who was the seller of the land parcel?
Hindalco Industries Limited.
What type of project will be developed on the acquired land?
A mixed-use project.
Related News Articles
MahaRERA Mandates Verification of Occupation Certificates to Curb Forgery
In a significant move to curb the use of forged documents, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed all planning authorities to verify the authenticity of occupation certificates for real estate projects within a 10-day timeframe.
Corporates Embrace Carbon-Neutral Office Spaces in Sustainability Push
Real estate is a significant contributor to global emissions, and the industry is evolving to meet the growing demand for eco-friendly practices. Large corporates are now assessing the carbon footprint of office spaces before leasing, leading to a shift t
NAREDCO and FSAI Sign Memorandum of Understanding to Boost Real Estate Sector
NAREDCO and FSAI have signed a Memorandum of Understanding (MoU) to collaborate on various initiatives aimed at enhancing the real estate sector in India. This strategic partnership is set to bring about significant improvements in housing and infrastruct
Phoenix Mills Leads Real Estate Sector with Impressive Market Gains
Amid the broader market's upward trend, Phoenix Mills has emerged as a standout performer in the Construction - Real Estate sector, contributing significantly to the rising Sensex. This article explores the factors behind Phoenix Mills' success and the overall positive outlook for the real estate market.
Chennai's Office Space Soars 75-Fold in 25 Years: A Transformative Journey
In the past 25 years, Chennai has experienced a major real estate transformation, particularly in the office space sector, as highlighted by JLL's latest report.
Big Relief for Homebuyers? Union Budget 2025 Expectations for the Real Estate Sector
Real estate leaders anticipate tax reliefs, GST reductions, and policy reforms in Union Budget 2025 to boost housing demand and investment.