Khadi Association Sells Prime 3.84-Acre Land in Borivali for ₹539 Crore
The Khadi and Village Industries Commission (KVIC) has made a significant real estate transaction by selling a 3.84-acre land plot in Borivali, Mumbai, for ₹539 crore. This sale marks a notable achievement in the real estate sector, reflecting the growing interest in prime properties in Mumbai.
Real EstateMumbaiBorivaliKvicLand SaleReal Estate PuneApr 14, 2025
The land in question is strategically located in Borivali, a well-developed area known for its residential and commercial significance. Borivali has seen substantial development over the years, with numerous high-rise apartments, commercial complexes, and lifestyle amenities contributing to its appeal. The sale of this large plot is expected to bolster the local real estate market and attract further investment.
The KVIC, better known for its efforts in promoting cottage and small-scale industries, ventured into real estate through this significant sale. The organization’s decision to monetize its assets aligns with broader economic strategies aimed at optimizing the utilization of public resources. The funds generated from this sale are expected to be reinvested in various developmental and welfare projects.
Real estate experts are hailing this transaction as a milestone in the Mumbai market. Anil Ahuja, a prominent real estate analyst, commented, “The sale of this large plot in Borivali for ₹539 crore underscores the robust demand for prime locations in Mumbai. It also reflects the confidence of investors in the city’s real estate sector, which continues to show resilience despite economic challenges.”
The buyer of the land, a leading real estate developer, plans to develop a high-end residential and commercial complex on the site. The proposed project is anticipated to include luxury apartments, retail spaces, and modern amenities, catering to the growing needs of the upscale market in Borivali.
This sale also highlights the strategic importance of suburbs like Borivali, which have become increasingly popular among developers and homebuyers. The area’s well-connected infrastructure, including proximity to the Western Express Highway and the Borivali railway station, makes it an attractive location for both residential and commercial developments.
The KVIC has a long history of supporting rural and village industries in India. Established in 1957, the organization aims to promote the growth of cottage and small-scale industries, thereby generating employment and income in rural areas. Despite its primary focus on industrial development, the KVIC occasionally engages in real estate transactions to optimize its resources and support its core objectives.
The successful sale of the 3.84-acre land plot in Borivali is a testament to the KVIC’s ability to diversify its revenue streams while contributing to the economic growth of the region. The proceeds from this sale are expected to be utilized for various initiatives aimed at enhancing the quality of life in rural and semi-urban areas.
As the real estate market in Mumbai continues to evolve, transactions like these serve as benchmarks for future investments. The high value of this sale also reflects the confidence of investors in the city’s economic resilience, particularly in the wake of the global economic slowdown and the challenges posed by the pandemic.
In conclusion, the KVIC’s sale of the 3.84-acre land plot in Borivali for ₹539 crore is a significant milestone in the real estate sector. It not only highlights the demand for prime properties in Mumbai but also underscores the strategic importance of suburban areas in the city’s development. The funds generated from this sale will be instrumental in supporting the KVIC’s mission to promote rural and village industries and improve the quality of life in these regions.
Frequently Asked Questions
What is the KVIC?
The Khadi and Village Industries Commission (KVIC) is a statutory organization established in 1957 to promote the growth of cottage and small-scale industries, particularly in rural areas. It aims to generate employment and income in these regions.
How much was the land in Borivali sold for?
The 3.84-acre land plot in Borivali was sold for ₹539 crore.
What are the plans for the purchased land?
The buyer, a leading real estate developer, plans to develop a high-end residential and commercial complex on the site, including luxury apartments, retail spaces, and modern amenities.
Why is Borivali an attractive location for real estate?
Borivali is a well-developed suburb of Mumbai, known for its residential and commercial significance. It offers well-connected infrastructure, including proximity to the Western Express Highway and the Borivali railway station, making it an attractive location for both residential and commercial developments.
What is the significance of this land sale for the real estate market in Mumbai?
This land sale is significant as it reflects the robust demand for prime locations in Mumbai and the confidence of investors in the city’s real estate sector. It also serves as a benchmark for future investments in the region.
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