Birla Estates, a part of the Aditya Birla Group, has recently made a significant investment by acquiring a large piece of land in the Mumbai Metropolitan Region (MMR) for a hefty sum of ₹537.42 crore. Situated in Kalwa, along the thriving Thane-Belapur Road, this area continues to develop with improved infrastructure and proximity to key locations. According to a report by Square Yards, this acquisition highlights Birla Estates’ strategic focus on expanding its presence in high-potential areas.
Once a quieter neighbourhood, Kalwa has emerged as a sought-after real estate destination in recent years. Its proximity to Thane, one of India’s busiest and most active real estate markets, makes it highly desirable for homebuyers. With Navi Mumbai rising as an employment hub and Thane’s expanding influence, Kalwa has become an attractive option for those seeking affordable and accessible housing. The area’s well-connected transport links make it a preferred choice for working professionals, offering convenience and ease of travel.
The deal itself is noteworthy. In September 2024, Ekamaya Property Private Limited, a subsidiary of Birla Estates, acquired the 99,021.47 square meter (24.5 acres) land parcel from Hindalco Industries Limited. The transaction included a stamp duty payment of ₹37.61 crore and a registration fee of ₹30,000. This strategic acquisition strengthens Birla Estates’s position for continued growth within the real estate industry.
Anand Moorthy, Co-founder and CBO of Capital Market & Services at Square Yards, stated,
“We are witnessing leading developers strategically positioning themselves across key markets, acquiring significant land parcels. This aligns with the growing demand for office spaces and residential apartments in gated communities as homebuyer preferences have shifted towards projects that offer a range of amenities and open spaces.”
His statement captures the current real estate trend, where homebuyers seek more than just basic living spaces. As the demand grows for properties within gated communities that offer amenities like recreational spaces, developers like Birla Estates are stepping up to meet these evolving needs.
Birla Estates is no stranger to large-scale developments. The company already has a strong presence in key cities such as Mumbai, Pune, Bengaluru, and Delhi NCR, spanning residential and commercial projects. According to their Q4 FY2024 report, they have an ambitious pipeline of projects, with 18 million square feet in development and an estimated gross development value of ₹32,000 crore. The Kalwa acquisition marks another step in their journey of expanding their portfolio, targeting areas with strong potential for growth. With its solid foundation, strategic expansion, and an eye on future trends, the company is well-positioned for continued success in India’s real estate market.
Read more through the links below to uncover the key trends and market leaders driving this growth:
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Published Date: 13 Sep, 2024
