Birla Estates acquires 70.92-acre land parcel in Boisar for Rs 104.3 crore

Birla Estates continues its land acquisition spree. The company recently purchased a 70.92-acre plot in Boisar. This follows a 24.5-acre acquisition in Thane and a 10-acre purchase in Mumbai. The Boisar deal cost Rs 104.3 crore. The Thane deal...

By Kailash Babar, ET Bureau | Dec 17, 2024, 07.07 PM IST

Realty developer Birla Estates, a wholly owned subsidiary of Aditya Birla Real Estate has acquired a land parcel covering 70.92 acres in Boisar in Maharashtra for Rs 104.3 crore.

In September, the company concluded the deal to acquire over 24.5-acre land parcel in Thane’s Kalwa locality from Hindalco Industries for over Rs 537 crore. The board of directors of Hindalco Industries had approved this sale of land in July to Ekamaya Properties, a wholly owned subsidiary of Birla Estates.

Prior to that, the developer, formerly known as Century Textiles and Industries, acquired the ownership rights of around 10-acre leasehold land parcel in Mumbai’s prime Worli locality from Wadia Group Chairman Nusli Wadia for Rs 1,100 crore.

With this transaction, the existing leasehold interest of Century Textiles and Industries were merged with the ownership rights. This development of this land parcel will also be undertaken by Birla Estates. Ends

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