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Kumar Mangalam Birla's next big move as he buys land worth Rs 537 crore in...

The acquisition marks significant real estate expansions for Birla Estates in key locations

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Shivam Verma

Updated : Sep 13, 2024, 11:21 AM IST

Kumar Mangalam Birla's next big move as he buys land worth Rs 537 crore in...

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Birla Estates, a real estate arm of the Aditya Birla Group, has purchased around 24.5 acres of land from Hindalco Industries in the Mumbai Metropolitan Region (MMR) for Rs 537.42 crore. According to a report by PTI, which cited real estate consultant Square Yards, the land is located in Kalwa, along the Thane-Belapur Road in Mumbai. The land was bought by Ekamaya Property Pvt Ltd, a wholly-owned subsidiary of Birla Estates.

The registration documents reveal that Ekamaya Property Pvt Ltd acquired the 99,021.47 square metre plot. The deal, finalised in September 2024, also involved a stamp duty payment of Rs 37.61 crore and a registration fee of Rs 30,000.

According to reports, Hindalco Industries confirmed the sale in a regulatory filing on September 5, 2024. The company had earlier announced its board’s approval for the land sale on July 15, 2024. Hindalco added that the definitive agreements for the sale were signed and registered on September 4, 2024.

In addition to this purchase, earlier this month, Birla Estates also acquired 10 acres of leasehold land in Worli, Mumbai, from Nusli Wadia for Rs 1,100 crore.

Both acquisitions mark significant real estate expansions for Birla Estates in key locations across Mumbai.

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