Birla Estates, the real estate development arm of the Aditya Birla Group, has acquired a prime land parcel in South Mumbai’s upmarket residential area of Walkeshwar at Malabar Hill. This is the second South Mumbai property acquired by the Aditya Birla Group companies in the last two weeks.
The company has purchased the land parcel spread over one-fourth of an acre along with over 12,500 sq. ft. constructed property across the ground plus three floors on the same for over Rs 162.30 crore.
B G H Properties, one of the group companies, recently acquired a bungalow Sunny Ville spread over nearly half an acre land parcel on South Mumbai’s upscale Carmichael Road for over Rs 220 crore and this deal was concluded on April 10.
The latest transaction involving the wholly-owned subsidiary of Century Textiles and Industries was registered on Friday. The property acquired by Birla Estates will undergo redevelopment as the company is planning a sea-view luxury residential development on the plot with a revenue potential of over Rs 600 crore.