Aditya Birla Real Estate Ltd’s subsidiary, Birla Estates Pvt Ltd, is expanding its presence in Mumbai’s real estate sector by launching a redevelopment project in the Mumbai Metropolitan Region (MMR). The venture targets an expected revenue of Rs 1,700 crore.
The project marks Birla Estates’ debut in the redevelopment space and it involves the transformation of Anmol Co-operative Housing Society and Bhartiya Bhavan Co-operative Housing Society, both located in Khar West, Mumbai. This initiative is in partnership with Parinee Real Estate Builders.
The redevelopment will result in a saleable area spanning 2.9 lakh sq ft. In addition, Birla Estates also holds a substantial commercial portfolio in Mumbai with two grade-A commercial properties in Worli, spanning 6 lakh sq ft of leasable space.
(With inputs from agencies.)