Aditya Birla Real Estate To Redevelop Mumbai Housing Society, Eyes ₹1,700 Crore Revenue
Aditya Birla Real Estate Ltd (ABREL) has entered Mumbai’s redevelopment market through its subsidiary Birla Estates Pvt Ltd. The company will redevelop Anmol and Bhartiya Bhavan Co-operative Housing Societies in Khar West under a joint arrangement with Parinee Real Estate Builders. The project, with a saleable area of 2.9 lakh sq ft, is expected to generate Rs 1,700 crore in revenue.
Aditya Birla Real Estate Ltd (ABREL) has entered Mumbai’s redevelopment market through its subsidiary Birla Estates Pvt Ltd. |
New Delhi: Aditya Birla Real Estate Ltd (ABREL) will redevelop a housing society in Mumbai and expects a revenue of Rs 1,700 crore from free-saleable area. In a regulatory filing on Friday, the company said its subsidiary Birla Estates Pvt Ltd has entered into the redevelopment market with its first project in Mumbai Metropolitan Region (MMR).
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Birla Estates will redevelop Anmol Co-operative Housing Society and Bhartiya Bhavan Co-operative Housing Society in Khar West, Mumbai's Western Suburbs. The project is being developed under a joint redevelopment arrangement with Parinee Real Estate Builders. "With a saleable area of 2.9 lakh sq ft, the project has an estimated revenue potential of Rs 1,700 crore," ABREL said.
Birla Estates develops premium residential housing in key markets. It also has a commercial portfolio with two grade-A commercial buildings located in Worli, Mumbai, with 6 lakh sq ft of leasable area.
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