3 weeks ago
Birla Estates Unit Secures Rs 159 Crore Mumbai Development Deal
A big home-building company called Birla Estates wants to build new homes in Mumbai, a huge city in India.
It made a deal to get the right to build on pieces of land in Bandra and Kandivali.
The deal was signed on August 6, 2026, and it cost 159 crore rupees.
Birla Estates signed it with a group of companies called Parinee.
Part of the deal moves building space from a slum redevelopment project in Kandivali to a new project in Khar.
The new homes will be fancy, luxury apartments.
This is Birla Estates' first big redevelopment project in Mumbai.
The company expects the project to earn about 1,700 crore rupees.
Birla Estates has been doing well, with 8,136 crore rupees in bookings this year.
Unnatam Properties Private Limited, a wholly owned subsidiary of Birla Estates, entered an agreement with two Parinee group entities for development rights in Bandra East and Kandivali for a consideration of Rs 159 crore.
The agreement, executed on August 6, 2026, transfers 8,153.40 sq m of PTC Sale FSI from a Kandivali (West) Slum Rehabilitation Authority project to Unnatam's composite society redevelopment project in Khar (West).
Unnatam Properties paid Rs 47.7 crore in stamp duty on the instrument under the conveyance provisions of the Maharashtra Stamp Act.
In March 2026, Birla Estates announced its first redevelopment project, covering Anmol Co-operative Housing Society and Bhartiya Bhavan Co-operative Housing Society in Khar West in partnership with Parinee Real Estate Builders.
Birla Estates reported a booking value of Rs 8,136 crore for FY2026, supported by strong residential demand across NCR, Bengaluru, and MMR.
- Who
- Unnatam Properties Private Limited, a wholly owned subsidiary of Birla Estates, and two Parinee group entities: Parinee Real Estate Builders Private Limited and Parinee Contour Construction Private Limited.
- What
- An agreement transferring development rights for properties in Bandra East and Kandivali for Rs 159 crore, including 8,153.40 sq m of PTC Sale FSI from a Kandivali (West) SRA project.
- Where
- Mumbai, covering Bandra East, Kandivali (West), and Khar (West), in Maharashtra, India.
- When
- The agreement was executed on August 6, 2026.
- Why
- Birla Estates is expanding into Mumbai's redevelopment segment amid continued consolidation of development rights in the city's established western suburbs.
Key facts
- Deal Value
- Rs 159 crore
- Stamp Duty Paid
- Rs 47.7 crore
- Agreement Date
- August 6, 2026
- FSI Transferred
- 8,153.40 sq m of PTC Sale FSI from Kandivali (West) SRA project
- Parties
- Unnatam Properties Private Limited (Birla Estates subsidiary); Parinee Real Estate Builders Private Limited and Parinee Contour Construction Private Limited
- Properties Covered
- Bandra East and Kandivali; rights loaded onto composite society redevelopment project in Khar (West)
- Khar West Project
- ~1.3 acres, ~2.9 lakh sq ft saleable area, revenue potential ~Rs 1,700 crore (announced March 2026)
- Birla Estates FY2026 Booking Value
- Rs 8,136 crore
Sources
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