A unit of Birla Estates has bought 24.5 acres of land near Thane. According to property website Square Yards, this land is located in the Mumbai Metropolitan Region. The company has bought this land for Rs 537.42 crore. Ekamaya Property, a unit of Birla Estates, has bought this property from Hindalco Industries, another company of the Aditya Birla Group. Birla Estates is the real estate unit of Century Textiles, a company of the Aditya Birla Group.
Hindalco announced the sale of the land in July, while the company’s board approved the sale last year. Moneycontrol contacted Birla Estates for comment on the deal, but the company has not yet responded. The land was registered on September 9 and a total stamp duty of Rs 37.6 crore was paid on the deal.
The land is located on the Thane-Belapur Road, which connects Thane and north-eastern parts of Mumbai such as Kopar Khairane, Mahape, Rabale etc. to Navi Mumbai. Birla Estates’ main focus has been on premium and luxury housing projects in Mumbai, National Capital Region (NCR), Bengaluru and Pune. The company has projects of around 1.8 crore sq ft with a gross development value of Rs 32,000 crore.
