Century Textiles Acquires 10-Acre Land in Mumbai's Worli for Rs 1100 Crore
This land will be developed through its wholly owned subsidiary, Birla Estates and adds an approximate booking value potential of Rs 14,000 crore to the company.
Century TextilesBirla EstatesMumbaiWorliReal EstateReal Estate MaharashtraSep 10, 2024
With this transaction, the existing leasehold interest of CTIL is merged with the ownership rights. This land will be developed through its wholly owned subsidiary, Birla Estates and adds an approximate booking value potential of Rs 14,000 crore to the company.
This acquisition also paves the way for 30-acre landholding in this area, with an overall booking value potential of approximately Rs 28,000 crore, the company claimed.
Information Century Textiles and Industries (CTIL) is a leading Indian textile company that has been in operation for over 100 years. The company has diversified its business interests into real estate development through its wholly owned subsidiary, Birla Estates.
Birla Estates is a real estate development company that is a wholly owned subsidiary of Century Textiles and Industries (CTIL). The company is focused on developing residential and commercial properties in key cities across India.
Frequently Asked Questions
Who is the owner of the 10-acre land parcel in Worli, Mumbai?
Nusli Wadia
How much did Century Textiles pay for the 10-acre land parcel?
Rs 1,100 crore
What is the booking value potential of the 10-acre land parcel?
Approximately Rs 14,000 crore
What is the overall booking value potential of the 30-acre landholding in Worli, Mumbai?
Approximately Rs 28,000 crore
Who is the developer of the 10-acre land parcel?
Birla Estates, a wholly owned subsidiary of Century Textiles and Industries (CTIL)
Related News Articles
Rise of Tier 2 Cities: The New Frontier of Real Estate Investment in India
Tier 2 cities are emerging as major contributors to India's real estate growth
Bharat Agri Fert & Realty Ltd. Embarks on Ambitious Expansion in Real Estate and Hospitality
BAFRL is set to focus on real estate development and the hospitality business, with plans to build luxurious residential flats and expand its resort capacity.
MahaRERA's MahaCRITI Portal: A Game-Changer for Maharashtra's Real Estate Sector
MahaRERA launches new portal MahaCRITI, offering online training and instructional videos for a seamless user experience
The Maharashtra Gambit: Who Will Win the State?
The Maharashtra election is crucial for both the Congress and the BJP. The outcome will significantly impact the national political narrative and individual party fortunes.
Agarwal Holdings Secures Prime Land in Juhu with a Rs 455 Crore Deal
In a significant move, Agarwal Holdings has acquired a prime piece of land in Juhu, Mumbai, from Shapoorji Pallonji Group for a staggering Rs 455 crore. This acquisition is set to bolster the company's portfolio in the highly competitive Mumbai real estat
Apollo Real Estate Finance Director Offloads $225,886 in Stock
Apollo Real Estate Finance Director recently sold a substantial amount of stock, raising concerns about the company's future. This move has drawn attention from investors and industry analysts alike.