Birla Estates Acquires Prominent Plot in Walkeshwar, Malabar Hill in South Mumbai For INR 162 Crores Approximately

Birla Estates Acquires Prominent Plot in Walkeshwar, Malabar Hill 

Birla Estates, the real estate development branch of the Aditya Birla Group, has purchased a prominent land parcel in the upscale residential neighbourhood of Walkeshwar at Malabar Hill in South Mumbai.

This is the second property in South Mumbai that the Aditya Birla Group has acquired in the past two weeks.

The real estate development company paid over 162.30 crore for the land parcel comprising one-fourth of an acre along with a ground-plus-three-stories building comprising over 12,500 square feet.

This transaction was finalised on April 10, 2023 by one of the group's companies, B G H Properties, for more than Rs 220 crore. The bungalow Sunny Ville, situated on a nearly half-acre plot of land on South Mumbai's upmarket Carmichael Road, was purchased for this amount.

Friday marked the most recent transaction involving the wholly-owned subsidiary of Century Textiles and Industries. The property acquired by Birla Estates will be redeveloped, as the company intends to construct a sea-view luxury residential development with a potential revenue of over 600 crore on the plot.

Birla Estates is preparing to enter the ultra luxury real estate market with the introduction of boutique residences in one of Mumbai's most affluent neighbourhoods, and the acquisition of a land parcel in South Mumbai is a part of these expansion plans.

There have been multiple big ticket size land acquisitions in South Mumbai in the recent past as the luxury real estate market of South Mumbai has been in super demand with innumerable luxury transactions happening in the past couple of years.