"Birla Estates Acquires Land from Hindalco for ₹537 Crore"

Birla Estates, the real estate arm of the Aditya Birla Group, has purchased a 24.5-acre land parcel in the Mumbai Metropolitan Region (MMR) for ₹537.42 crore from Hindalco Industries. The land, located in Kalwa along the Thane-Belapur Road, sits in a rapidly growing area due to its proximity to Thane, one of the region’s busiest real estate markets, and Navi Mumbai, where both residential and commercial projects are flourishing.

Anand Moorthy, Co-founder and CBO of Square Yards' Capital Market & Services division, commented on the acquisition, stating, “Leading developers are positioning themselves in key markets to meet the rising demand for office spaces and residential apartments in gated communities.”

He also noted that increasing transparency in land transactions, driven by the digitization of land records, has boosted investor confidence, attracting global firms to expand their presence in India.

The transaction, finalized this month, included a stamp duty payment of ₹37.61 crore.

HBL