Birla Estates Enters Redevelopment Market with Rs 1,700 Crore Khar Project

Birla Estates Announces First Mumbai Redevelopment Project

Aditya Birla Real Estate Ltd, the real estate arm of the Aditya Birla Group, has announced its first redevelopment project in Mumbai in a joint venture with Parinee Group. The project involves redeveloping two housing societies, Anmol Co-operative Housing Society and Bhartiya Bhavan Co-operative Housing Society, with a saleable area of 2.9 lakh square feet and a topline potential of Rs 1,700 crore.

The project is strategically located near the upcoming metro station at Khar on the Yellow Line and the Khar Road railway station. This redevelopment project is expected to unlock land potential and enable modern living environments in a supply-constrained city like Mumbai.

Birla Estates, which has a gross development potential pipeline of nearly Rs 70,000 crore, has been eyeing an entry into the redevelopment space in Mumbai for some time. The company has prioritised monetising its extensive land parcels in Mumbai, including the ultra-luxury Birla Niyaara project in Worli with a topline of more than Rs 10,000 crore.

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The company has also expanded its presence in other markets, including Bengaluru and the National Capital Region (NCR), and has launched its first project in Pune in the premium to luxury categories.