Real Estate

Real Estate Transactions

Birla Estates plans 3.6 m sq ft development on 14-acre Worli land parcel

Economic Times  

Birla Estates, the wholly-owned real estate arm of Century Textiles and Industries Limited (CTIL), will be developing a 3.6-million sq ft integrated project spread over 14 acres in Mumbai's Worli locality. This will be part of the proposed development of its total 30-acre land parcel in phases. Total development cost for the 14-acre development is estimated at INR 5,500 crore. Of this, the company will invest INR 1,500 crore, while the balance will be financed through customer advances Of the total proposed development on 14 acres, 2.5 million sq ft will be residential, 1 million sq ft will be offices and around 1 lakh sq ft will be retail development. The entire project including the residential component will be developed by December 2030.