Birla Estate Acquires 24.5 Acres in Mumbai MMR for Rs. 537 Crore 

Mumbai / September 12, 2024: The Aditya Birla Group’s real estate arm, Birla Estates, has expanded its footprint in Mumbai with a Rs 537 crore land purchase in Kalwa. The strategically located plot is near Thane-Belapur Road, a prime development area, a statement from the company said. 

Kalwa has emerged as an attractive residential destination, benefitting from its close connection to Thane, an active real estate market, and Navi Mumbai, a growing employment hub. These factors make it appealing to working professionals seeking convenient housing options, the statement added. 

Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards, said, “We are witnessing leading developers strategically positioning themselves across key markets, acquiring significant land parcels. This aligns with the growing demand for office spaces as well as residential apartments in gated communities as homebuyer preference have shifted towards projects that offer a range of amenities and open spaces. These high-value deals in the market clearly signal profitable opportunities for developers in both residential and commercial sectors. Additionally, global firms and tech-giants are increasingly expanding their presence in India. The digitization of land records and enhanced transparency have played a key role in boosting stakeholder confidence in the Indian real estate sector.”

The registration document, reviewed by Square Yards, indicates that Ekamaya Property Private Limited, a wholly-owned subsidiary of Birla Estates Private Limited, acquired the 99,021.47 square meter (about 24.5 acres) land parcel. The transaction, finalized in September 2024, involved the purchase from Hindalco Industries Limited. The deal included a stamp duty of Rs 37.61 crore and a registration fee of Rs 30,000.