Birla Estates, the real estate arm of the Aditya Birla Group, has made a significant acquisition of a land parcel in the Mumbai Metropolitan Region (MMR) for Rs 537.42 crore, as reported by Square Yards. The plot is strategically located in Kalwa, along the rapidly developing Thane-Belapur Road, an area benefiting from its proximity to key commercial hubs and improving infrastructure.
Kalwa has emerged as a sought-after residential destination due to its close links with Thane, one of India’s most active real estate markets, and Navi Mumbai, a growing employment center. These factors make it an ideal location for working professionals in search of convenient housing options.
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, a wholly-owned subsidiary of Birla Estates, acquired the 99,021.47 sq-mtr (~24.5 acres) land parcel. The transaction, finalized in September 2024, involved the purchase from Hindalco Industries. The deal included a stamp duty of Rs 37.61 crore and a registration fee of Rs 30,000.
Birla Estates has a strong geographical footprint, with residential and commercial developments across Mumbai MMR, Pune, Bengaluru, and Delhi NCR. As per Square Yards data insights Birla Estates, ranked third in the Mumbai MMR amongst developers with the highest registered home sales values during the April-June quarter of 2024, recording transactions worth Rs 1,126 crore. According to Birla Estate’s Q4 FY2024 report, the firm has an impressive pipeline of 18 million sq-ft area across projects with an estimated gross development value of Rs 32,000 crore.
