Birla Estates purchases 70.92-acre Land in Boisar for Rs. 104. 3 crore

For Rs. 104.3 crore, Birla Estates Pvt Ltd, the real estate division of Aditya Birla Real Estate, has purchased a 70.92-acre plot of land in the Boisar area of the Mumbai Metropolitan Region (MMR).

Boisar is about 100 kilometers from Mumbai and is located in the Palghar district. It is a center of industry close to Gujarat's border. On Tuesday night, the business announced the acquisition to the public.

According to market sources, the company is expected to develop a township project because there is a demand for apartments in this area due to the numerous infrastructure projects that are currently under development.

Boisar will be a stop on the ambitious 508 km Mumbai-Ahmedabad bullet train. A station is currently under construction and is scheduled to open for service in 2028. In August, the Vadhavan Port, an all-weather deep draft facility, also had its foundation stone laid. The port's first phase is expected to be completed in 2029. In the secretariat, there are also discussions about building an airport in Palghar.

This is Birla Estate’s third land purchase in the current calendar year in the Mumbai area, suggesting intentions to grow its real estate company. The first two were located in Thane and Worli. The company announced in September that it had paid Rs. 1,100 crores to businessman Nusli Wadia for a 10-acre Worli leasehold plot. For Rs. 537.42 crore, Birla Estates paid its group company Hindalco for a 24.5-acre factory plot in the same month.