Birla Estates' Arm Ekamaya Property Acquires 24.5 Acres of Land Near Mumbai for Rs 537 Crore
Birla Estates' subsidiary Ekamaya Property has purchased a large land parcel from Hindalco Industries, a fellow Aditya Birla group company, for Rs 537 crore.
Birla EstatesEkamaya PropertyHindalco IndustriesAditya Birla GroupCentury TextilesReal Estate MumbaiSep 12, 2024
The sale deed was registered on September 9, with the deal incurring a total stamp duty of Rs 37.6 crore. The land is strategically located on Thane-Belapur road, which links Thane and other north-eastern regions of Mumbai like the industrial suburb of Airoli, Kopar Khairane, Mahape, Rabale, and others with Navi Mumbai.
Birla Estates has largely focused on premium and luxury housing projects in Mumbai, National Capital Region, Bengaluru, and Pune. The company has a pipeline of around 18 million square feet of projects, with a gross development value of Rs 32,000 crore.
It's worth noting that Hindalco had announced the sale of land to Birla Estates' arm in July 2024. The company's board had approved the sale last year.
Birla Estates is the real estate arm of Aditya Birla Group-owned Century Textiles. The company has not yet commented on the deal, including its plans for the land parcel.
Information
Birla Estates is a leading real estate company in India, with a focus on premium and luxury housing projects. The company is a subsidiary of Aditya Birla Group-owned Century Textiles.
About Birla Estates
Birla Estates is the real estate arm of Aditya Birla Group-owned Century Textiles. The company is a leading player in the Indian real estate market, with a focus on premium and luxury housing projects.
About Hindalco Industries
Hindalco Industries is a leading metals company in India, and a subsidiary of Aditya Birla Group. The company is one of the largest producers of aluminum and copper in the country.
Frequently Asked Questions
Who is the buyer of the 24.5-acre land parcel?
Birla Estates' arm Ekamaya Property.
Who is the seller of the land parcel?
Hindalco Industries.
What is the location of the land parcel?
Kalwa in Thane, part of the Mumbai metropolitan region.
What is the price of the land parcel?
Rs 537.42 crore.
What is the focus of Birla Estates in the real estate market?
Premium and luxury housing projects.
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