Birla Estates Buys Prime Kalwa Land Near Thane-Belapur Road

As per news received by Indian Proptech Portal GHAR, Birla Estates, the real estate division of the Aditya Birla Group, has made a significant move in the Mumbai real estate market. The company acquired a 24.5-acre plot of land in the Mumbai Metropolitan Region (MMR) for a total consideration of ₹537.42 crore.

This strategic purchase is located in Kalwa, along the well-connected Thane-Belapur Road, a prime area for future real estate development.

Hindalco’s Land Sale and Definitive Agreements

Reports suggest that Hindalco Industries, in a regulatory filing on September 5, 2024, confirmed the sale of the land to Birla Estates' subsidiary, Ekamaya Properties Pvt Ltd. The sale was previously approved by Hindalco’s Board of Directors on July 15, 2024, and the definitive agreements for the transaction were signed and registered on September 4, 2024.

According to sources, the registration document reviewed by Ghar.tv revealed that Ekamaya Property Pvt Ltd, a fully-owned subsidiary of Birla Estates Private Limited, finalized the acquisition of the 99,021.47 square meter (~24.5 acres) land parcel. This transaction also involved a stamp duty payment of ₹37.61 crore and a registration fee of ₹30,000.

Further Expansion in Mumbai’s Real Estate Market

This acquisition follows another major purchase by Birla Estates earlier in the month. The company acquired 10 acres of leasehold land in Worli, Mumbai, from Nusli Wadia for ₹1,100 crore. These strategic acquisitions are part of Birla Estates’ continued efforts to expand its footprint in Mumbai, one of the most coveted real estate markets in India.

Key Info:

• Location: Kalwa, Mumbai Metropolitan Region (MMR), near Thane-Belapur Road.
• Acquisition Size: 99,021.47 square meters (~24.5 acres). Acquisition Cost: ₹537.42 crore.
• Stamp Duty: ₹37.61 crore.
• Registration Fee: ₹30,000.
• Seller: Hindalco Industries Limited.
• Purchaser: Ekamaya Property Pvt Ltd, a wholly-owned subsidiary of Birla Estates Private Limited.
• Transaction Finalization: Definitive agreements signed on September 4, 2024.
• Previous Acquisition: 10 acres of leasehold land in Worli for ₹1,100 crore.