Kumar Mangalam Birla moves to real estate buys land worth 24.5 acre land in MMR
Kumar Mangalam Birla moves to real estate buys land worth
24.5 acre land in MMR
Birla Estates, the real estate venture of the Aditya Birla Group, has bought around 24.5 acre land in Mumbai Metropolitan Region (MMR) for Rs 537.42 crore, according to real estate consultant Square Yards. The plot is located at Kalwa, along the Thane-Belapur Road. This may shake real estate world.
According to reports, Hindalco Industries confirmed the land sale in a regulatory filing on September 5, 2024. The company had previously announced its board’s approval for the sale on July 15, 2024. Hindalco further stated that the definitive agreements were signed and registered on September 4, 2024.
The company in a statement revealed that the registration document, reviewed by Square Yards, indicates that Ekamaya Property Pvt Ltd, a wholly-owned subsidiary of Birla Estates Private Limited, acquired the 99,021.47 square meter (~24.5 acres) land parcel.
Reportedly, the transaction was finalized in September 2024 and 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, it added.
Earlier this month, Birla Estates Private Limited, a wholly-owned subsidiary of Century Textiles and Industries Limited, acquired land from Hindalco Industries Limited. The company would develop a mixed use project on this plot.
Earlier this month, Birla Estates also purchased 10 acres of leasehold land in Worli, Mumbai, from Nusli Wadia for Rs 1,100 crore. These acquisitions represent major real estate expansions for Birla Estates in prime locations across Mumbai
News Edit KV Raman
