Century Textiles Acquires Prime Land in Mumbai's Worli for Rs 1100 Crore
Real estate concerns arise as new notices for GST on leasehold land transfers stir up worries. Get the latest news and updates on the real estate industry.
Real EstateMumbaiLand AcquisitionCentury TextilesBirla EstatesReal Estate NewsSep 10, 2024
This acquisition is expected to add an approximate booking value potential of Rs 14,000 crore to the company. Furthermore, the deal paves the way for a 30-acre landholding in the area, with an overall booking value potential of approximately Rs 28,000 crore.
The land parcel, located in the heart of Mumbai, is a prime piece of real estate. The acquisition is a strategic move by CTIL to expand its presence in the Mumbai market and tap into the growing demand for luxury residential and commercial spaces.
Information
Century Textiles and Industries (CTIL) is a leading Indian conglomerate with interests in textiles, cement, and real estate. The company has a significant presence in the real estate sector through its subsidiary, Birla Estates.
Birla Estates is a wholly-owned subsidiary of Century Textiles and Industries (CTIL). The company is engaged in the development of residential and commercial properties in India. With a focus on luxury and quality, Birla Estates aims to provide world-class living and working spaces to its customers.
Frequently Asked Questions
What is the value of the land acquired by Century Textiles?
The land parcel was acquired for Rs 1,100 crore.
Who is the previous owner of the land?
The land was previously owned by Nusli Wadia.
What is the expected booking value potential of the land?
The land is expected to add an approximate booking value potential of Rs 14,000 crore to the company.
What is the total landholding of Century Textiles in the area?
The company has a total landholding of 30 acres in the area, with an overall booking value potential of approximately Rs 28,000 crore.
Who is the developer of the land parcel?
The land will be developed through Birla Estates, a wholly-owned subsidiary of Century Textiles.
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