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Birla Estates to launch Worli project by October

Birla Estates to launch Worli project by October
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Last Updated: May 26, 2021, 04:02 PM IST
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Synopsis
Sitting on a large land bank in Mumbai, Delhi and Pune already, the group is betting big on the realty space and has lined up Rs 1,000 crore in capex this fiscal, and plans to be among the top five developers over the next three-five years with annual sales of around Rs 7,000 crore.
Agencies
A second project will come up in the Whitefield area on 8 acres and will have a revenue potential of Rs 400 crore.
Birla Estates, the realty arm of AV Birla Group s
Century Textiles, will be launching a super premium project at Worli in the megapolis that will have a revenue potential north of Rs 10,000 crore, according to a top company official. ....

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Birlas betting big on realty, lines up Rs 1,000-cr capex for Birla Estates

Century Textiles & Industries, which runs three business verticals paper & pulp, realty and paper tissues, and nets over 70 per cent of the income from the first is diverting its focus onto the real estate business and has lined up Rs 1,000 crore for capex this fiscal for its ongoing and upcoming projects, including the super premium Worli project.
At this level, the capex is nine times the other two businesses are getting, a top official of the AV Birla Group firm has said.
Birla Estates was launched as the real estate business vertical of Century Textiles in 2016, and has large land bank cushioning the price impact thus making it more attractive considering the massive cost of land in the cities it is focusing on Mumbai and its suburbs, Delhi-NCR, Bengaluru and Pune. ....

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Birlas betting big on realty, lines up Rs 1,000-cr capex for Birla Estates this fiscal

Birla Estates was launched as the real estate business vertical of Century Textiles in 2016, and has large land bank in Mumbai and its suburbs, Delhi-NCR, Bengaluru and Pune. ....

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Real estate budget expectations | Tax sops to liquidity enhancement: Here's what the real estate industry expects from Budget 2021

Updated Jan 25, 2021 | 19:38 IST
The sector also hopes that the budget will introduce GST reforms by bringing back the Input Tax Credit. This will help in bringing down the cost of construction thus reducing the property prices.
Tax sops to liquidity enhancement: What the real estate industry expects from Budget 2021
New Delhi: Hit hard by the Covid pandemic and the subsequent lockdowns, the nation’s real estate sector is betting big on this year’s budget for the revival of the sector. Besides contributing majorly to the GDP, it is also one of the biggest employers in the country. The sector has been instrumental in the economic growth and stability of the nation. ....

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Demand for independent floors in south Delhi, Gurgaon increases

Synopsis
DLF and Birla Estates have reported an uptick in the sales of independent floors, while developers of boutique apartments in south Delhi claim there is a shortage of such ready-to-move in accommodation.
Agencies
Another reason for the rising demand for independent floors by well-known builders is that they take care of the infrastructure and other amenities.
New Delhi: Demand for independent floors in south Delhi and Gurgaon has increased as high-end homebuyers look for large and standalone spaces after the Covid-19 pandemic changed buyer behaviour.
DLF and Birla Estates have reported an uptick in the sales of independent floors, while developers of boutique apartments in south Delhi claim there is a shortage of such ready-to-move in accommodation. ....

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