Birla Estates Pvt. Ltd., the real estate arm of Century Textiles and Industries Ltd. (CTIL), has announced its foray into the premium and luxury real estate market in Worli with a plan to develop 30 acres of prime land over 10 years with a potential booking value of ₹20,000 crore.
The maiden project named Birla Niyaara, with three towers of 75 floors each, will come up on 14 acres. This project would be one of the largest integrated developments in Mumbai, top company executives said, adding that the development cost of the project was estimated at about ₹5,500 crore. K.T Jithendran, CEO, Birla Estates, said, “Century Mills has been one of Mumbai’s iconic landmarks and an important part of the Birla group’s history. Our intent is to create a new landmark in the Mumbai skyline with Birla Niyaara.”
“While it is our flagship and maiden project in Mumbai, it has the potential to catapult Birla Estates into the top developers’ league. The entire project has been underpinned on sound principles of sustainable living which also cater to the evolving consumer needs,” he said.
The project, conceptualised and designed by architects Foster and Partners, is a mix of contemporary and modern high rise living spaces, high-end retail and office buildings.
The landscape is master planned and detailed by Sasaki and Coopers Hill respectively. Apartments are priced between ₹4 crore and ₹20 crore.
