Birla Estates Snaps Up 24.5 Acre Land in Mumbai for Rs 537.42 Crore
Birla Estates, the real estate arm of the Aditya Birla Group, has acquired a 24.5 acre land parcel in Mumbai for a whopping Rs 537.42 crore.
Birla EstatesReal EstateMumbaiLand AcquisitionMmrReal Estate MaharashtraSep 12, 2024
The plot, spanning 99,021.47 square meters, was acquired by Ekamaya Property Pvt Ltd, a wholly-owned subsidiary of Birla Estates Private Limited. The transaction, finalized in September 2024, involved the purchase from Hindalco Industries Limited.
As per the registration document reviewed by Square Yards, the deal included a stamp duty of Rs 37.61 crore and a registration fee of Rs 30,000. This acquisition marks a significant milestone for Birla Estates, which plans to develop a mixed-use project on this plot.
Birla Estates, a wholly-owned subsidiary of Century Textiles and Industries Limited, has been actively expanding its presence in the real estate market. This acquisition is a testament to the company's commitment to developing premium projects in strategic locations.
The Mumbai Metropolitan Region (MMR) has been a hub for real estate activity, with several prominent developers vying for land parcels. Birla Estates' acquisition is a significant move, given the location's proximity to major infrastructure developments.
Information
Birla Estates is the real estate arm of the Aditya Birla Group, a multinational conglomerate with a diverse portfolio of businesses. The company has been actively expanding its presence in the real estate market, with a focus on developing premium projects in strategic locations.
Birla Estates is a wholly-owned subsidiary of Century Textiles and Industries Limited, a part of the Aditya Birla Group. The company is committed to developing premium projects that cater to the evolving needs of homebuyers and businesses.
Frequently Asked Questions
Who acquired the 24.5 acre land parcel in Mumbai?
Birla Estates, the real estate arm of the Aditya Birla Group.
How much did Birla Estates pay for the land parcel?
Rs 537.42 crore.
Where is the land parcel located?
Kalwa, along the Thane-Belapur Road in Mumbai Metropolitan Region (MMR).
What is the planned development on the acquired land?
A mixed-use project.
Who was the seller of the land parcel?
Hindalco Industries Limited.
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