Birla Estates Expands Portfolio with Rs 537.42 Crore Land Acquisition in Mumbai

Introduction:

In a massive pass to amplify its real estate footprint, Birla Estates, the real property arm of the Aditya Birla Group, has obtained a high 24.Five-acre plot in Mumbai’s Metropolitan Region for Rs 537.Forty two crore. The acquisition became finalized in September 2024, with the transaction details verified with the aid of actual estate consultant Square Yards.

The land, situated at Kalwa along the Thane-Belapur Road, was purchased from Hindalco Industries Limited. The registration document reveals that Ekamaya Property Pvt Ltd., a wholly-owned subsidiary of Birla Estates Private Ltd.,

is the new owner of the 99,021.47 square meter (~24.5 acres) property. The deal includes a substantial stamp duty of Rs 37.61 crore and a registration fee of Rs 30,000.

This latest acquisition underscores Birla Estates’ strategic expansion in the Mumbai Metropolitan Region. The company plans to develop a mixed-use project on this newly acquired land, which aligns with its ongoing strategy to diversify and enhance its real estate portfolio.

Birla Estates Acquires 24.5 Acres in Mumbai for Rs 537.42 Crore: A Strategic Move in Real Estate Expansion:

Earlier this month, Birla Estates Private Ltd., a subsidiary of Century Textiles and Industries Ltd., had also made headlines for acquiring land from Hindalco Industries Ltd., marking a notable surge in its land acquisition activities.

Conclusion:

This move is expected to bolster Birla Estates’ position in the competitive Mumbai real estate market, providing a significant opportunity for growth and development in one of the region’s rapidly expanding areas.

FAQ:

1. What land did Birla Estates acquire?
Birla Estates has acquired a 24.5-acre plot of land located at Kalwa along the Thane-Belapur Road in the Mumbai Metropolitan Region.

2. How much did the acquisition cost?
The total cost of the acquisition was Rs 537.42 crore.

3. Who was the previous owner of the land?
The land was previously owned by Hindalco Industries Limited.

4. Through which subsidiary was the land acquired?
The land was acquired through Ekamaya Property Pvt Ltd., a wholly-owned subsidiary of Birla Estates Private Ltd.

5. What are the additional costs associated with the acquisition?
The acquisition included a stamp duty of Rs 37.61 crore and a registration fee of Rs 30,000.

6. When was the transaction finalized?
The transaction was finalized in September 2024.

7. What are Birla Estates’ plans for this land?
Birla Estates plans to develop a mixed-use project on the acquired land.

8. Has Birla Estates made any similar acquisitions recently?
Yes, earlier this month, Birla Estates Private Ltd., a subsidiary of Century Textiles and Industries Ltd., also acquired land from Hindalco Industries Ltd.

9. How does this acquisition fit into Birla Estates’ strategy?
This acquisition is part of Birla Estates’ strategy to expand its real estate portfolio and enhance its presence in the Mumbai Metropolitan Region.

10. Where can I find more information about Birla Estates and their projects?
For more details about Birla Estates and their projects, you can visit their official website or contact their corporate communications department.

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