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In the upscale South Mumbai neighbourhood of Walkeshwar in Malabar Hill, Birla Estates, the Aditya Birla Group's real estate development division, has purchased a valuable land parcel. The Aditya Birla Group companies have purchased this second South Mumbai home in the previous two weeks. For more than Rs 1.62 billion, the corporation bought the quarter-acre block of land with a building on it that is more than 12,500 square feet large and has three stories in addition to the ground level. An affluent home Sunny Ville on South Mumbai's Carmichael Road was recently purchased by B G H Properties, one of the group firms, for more than Rs 2.2 billion, and the transaction was finalised on April 10. The most recent transaction involving the 100 percent owned subsidiary of Century Textiles and Industries was recorded. As Birla Estates plans to build a sea-view luxury residential development on the plot with a potential revenue of over Rs 6 billion, the land it recently acquired will be redeveloped. Birla Estates is preparing to enter the ultra luxury real estate market with the debut of boutique houses in one of Mumbai's most affluent locations, and the South Mumbai land parcel acquisition is part of this growth plans. This is in response to the recent strong response to its premium project in Worli. Also read: Greater Noida & Noida see reduction in unsold housing stocks Haryana government to sell rented, leased properties