Birla Estates buys 5.76 acre land in Pune to build Rs 2,500 crore worth housing project
This land parcel is located in one of the most premium locations in Pune with an estimated revenue potential of about Rs 2,500 crore, Birla Estates said. The company plans to develop a premium residential project.
Birla Estates has bought a 5.76 acre land in Pune to develop a housing project worth Rs 2,500 crore as part of its expansion plan.
Birla Estates is the real estate arm of the Aditya Birla Group housed under Century Textiles and Industries Ltd.
According to a regulatory filing, Birla Estates has entered the Pune housing market by acquiring 5.76 acres of land in Sangamwadi, a central business district in Pune.
The land was purchased from Sudarshan Chemical Industries Ltd (SCIL).
"This land parcel is located in one of the most premium locations in Pune with an estimated revenue potential of about Rs 2,500 crore," Birla Estates said. The company plans to develop a premium residential project.
K T Jithendran, MD and CEO of Birla Estates, said, "With this foray into Pune, Birla Estates is embarking on an exciting new phase after establishing itself in the MMR (Mumbai Metropolitan Region), Bengaluru and NCR (National Capital Region) markets."
Pune is one of the country's largest residential markets and this land with high revenue potential is located at the heart of the city.
Birla Estates, currently, has many projects across key markets in the country. This includes the flagship project Birla Niyaara in Worli.
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