Birla Estates Pvt Ltd to pump in Rs 5500 cr for Mumbai project

13 Dec 2021 CW Team

A 100% wholly-owned subsidiary and the realty arm of Century Textiles and Industries Limited (CTIL), Birla Estates Private Limited, has swooped into the premium and luxury realty market in Worli.

The firm plans to build a total of 30 acres of land parcels in Worli in phases with a possible booking value of Rs 20,000 crore.

The maiden start of Birla Niyaara is a premium flagship project in this micro-market. This remarkable product, spread across 14 acre, is one of the biggest integrated developments in Mumbai’s most sought-after location, Worli. The development values for Birla Niyaara are Rs 5,500 crore.

CEO of Birla Estates, K T Jithendran, told the media that Century Mills has been among Mumbai’s iconic landmarks and a notable part of the Birla group’s history. Their goal is to form a new landmark in the Mumbai skyline with Birla Niyaara. While it is their flagship and maiden plan in Mumbai, it has the potential to propel Birla Estates into the leading developers’ league.

Conceptualised and developed by architects Foster and Partners, the development is a blend of contemporary and modern high rise living areas, high-end retail and office buildings. The landscape is master-planned and detailed by Coopers Hill and Sasaki, respectively.

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Also read: Birla Group lines up Rs 1,000 cr capex for housing projects in FY22 Also read: Birla Corporation plans 30 mt cement capacity in next five years

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