The Birla Estates, a subsidiary of Century Textiles and Industries, has acquired a five-acre land parcel in Sector 71, Gurugram, aiming to develop a luxury residential project with a development potential of 10 lakh sq ft and an expected revenue of over INR 1,400 crore. The prime location on the Southern Peripheral Road offers excellent connectivity to Delhi and Gurugram. MD and CEO K. T. Jithendran emphasized the strategic importance of this market and the company's commitment to delivering exclusive living experiences. This acquisition expands Birla Estates' footprint in NCR, complementing its ongoing projects in Gurugram and New Delhi.
Birla Estates, a wholly-owned subsidiary of Century Textiles and Industries and the real estate venture of the Aditya Birla Group, has acquired a five-acre land parcel in Sector 71, Gurugram. This acquisition marks a significant expansion of the company's footprint in the National Capital Region (NCR). The land has a development potential of approximately 10 lakh square feet and is anticipated to generate revenue exceeding INR 1,400 crore.
The luxury residential project planned for this site will be strategically located on Southern Peripheral Road (SPR) in Sector 71. This prime location offers excellent connectivity to Delhi and other parts of Gurugram through major routes like the Dwarka Expressway, Sohna Road, and Golf Course Extension Road. The project will feature high-rise residential towers, complemented by elegantly designed clubhouse amenities and landscaped areas. Proximity to top educational institutions, hospitals, and commercial centers enhances the appeal of this development.
K. T. Jithendran, MD and CEO of Birla Estates, highlighted the importance of Gurugram as a key market for the company, noting the immense real estate potential in this micro-market. He emphasized that the acquisition aligns with Birla Estates' strategy to cater to homebuyers seeking exclusivity and distinctive living experiences. The company aims to transcend traditional notions of luxury, focusing instead on creating residences that reflect a legacy of dedication and excellence.
In addition to this new project in Sector 71, Birla Estates has ongoing developments at Golf Course Extension Road and Sector 31 in Gurugram, as well as Mathura Road in New Delhi. In June, the company entered a joint venture with Barmalt India to develop a 13.27-acre land parcel for luxury residential group housing in Sector 31, Gurugram.
Birla Estates ventured into the real estate sector in 2016 through Century Textiles and has since developed a diversified portfolio that includes residential, commercial, and mixed-use properties. The company's latest acquisition reaffirms its commitment to expanding its presence in the NCR market and delivering high-quality, aesthetically designed residences. Additionally, in a separate regulatory filing, Hindalco announced the board's approval for the sale of land in Kalwa, Maharashtra to Ekamaya Properties, a wholly-owned subsidiary of Birla Estates, for INR 595 crore. This move further consolidates Birla Estates' position in the real estate sector.
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