Birla Estates acquires prime land in Malabar Hill

This is the second purchase by the Aditya Birla group in less than two weeks. On April 10, BGH Properties Ltd, a company whose directors are closely associated with the group, had purchased a 19,883 sq ft bungalow, Sunny Ville, on Carmichael Road in Mumbai from a Parsi woman’s estate

MUMBAI: Birla Estates Pvt Ltd, the real estate arm of the Aditya Birla group, has purchased a 9,000 sq ft plot of prime land on Walkeshwar Road in Malabar Hill for ₹162.30 crore, and will develop a luxury residential project on it.

The plot at 210, Walkeshwar in Malabar Hill acquired by Birla Estates for a luxury project. (Bhushan Koyande/HT PHOTO)

The land, which has a ground plus 2 building with carpet area of 12,500 sq ft, was purchased from the owners Premkumar Agarwal family on April 21. The purchasers paid a stamp duty of ₹9.73 crore, according to documents accessed and shared by CRE Matrix, a real estate analytic firm.

This is the second purchase by the Aditya Birla group companies in less than two weeks. On April 10, BGH Properties Ltd, a company whose directors are closely associated with the group, had purchased a 19,883 sq ft bungalow, Sunny Ville on Carmichael Road in South Mumbai from a Parsi woman’s estate for ₹220 crore.

Birla Estates, which developed Birla Niyaara luxury project in Worli, said in a statement that it is all set to enter the super luxury real estate market by developing boutique residences in one of South Mumbai’s upscale areas.