Up next
Tags

Century Textiles and Industries Limited (CTIL) has secured ownership of approximately 10 acres of prime leasehold land in Worli, Mumbai, from Mr. Nusli Wadia. This acquisition, valued at Rs. 1100 crore, consolidates CTIL’s existing leasehold interest with full ownership rights.

The newly acquired land will be developed by CTIL’s real estate subsidiary, Birla Estates Pvt Ltd. Worli is currently a hotspot for luxury real estate, attracting high-end buyers from across South Mumbai and beyond. The acquisition positions CTIL to tap into this thriving market.

The 10-acre land parcel has an estimated booking value potential of Rs. 14,000 crore, contributing to a total contiguous landholding of approximately 30 acres in the area, with a combined booking value potential of around Rs. 28,000 crore. This includes Birla Niyaara, Birla Estates’ flagship project, which has garnered significant success with cumulative sales exceeding Rs. 5,700 crore.

Also Read: Worli Flat Sold for ₹115 Crore

The acquisition underscores CTIL’s commitment to expanding its footprint in high-value real estate and enhancing its position in the luxury market.

SHARE ON
TwitterWhatsappFacebookBufferLinkedInPin It
You May Also Like
Worli has emerged as India’s top ultra-luxury real estate hub with ₹5,500 crore worth of high-end homes sold in 2 years.

Slowdown? Mumbai generates Rs 242 Cr in July from registrations

Slowdown? Mumbai earned Rs 242 crore in the month of July from…

Maharashtra Government Announces Affordable Housing Scheme for 5,000 Dabbawalas

The Maharashtra government has announced an affordable housing scheme to provide 5,000 dabbawalas with homes under PMAY. The project, located on a 46-acre site in Thane, will feature 500 sq ft homes costing up to ₹25 lakh. MHADA will oversee the development, and the state government is considering a reduction in prices following requests from the dabbawalas.
Blox

Blox Acquires Strategic Stake in Guardians,

Blox, India’s leading digital real estate platform, has acquired an 11% stake in Guardians for $12 million, with plans to increase its stake to 50% in the next three years. This acquisition strengthens Blox’s position as India’s largest real estate seller, targeting $10 billion in Gross Transaction Value (GTV) over the next 3-5 years. Combining AI-driven tech with a unique D2C and broker-led B2B2C model, Blox is reshaping how developers, brokers, and buyers interact in India’s booming real estate market.
Coworking

Managed Co-Working Player Urban Vault to Add 10,000 Seats in Bengaluru within This Quarter

·      With this new addition, Urban Vault’s total inventory of managed co-working seats…