Latest Mumbai Land Deals: ILP 4 India & L&T Realty Acquire Plots

Moving on from joint developments, developers are now also actively seeking land purchase for projects. In Mumbai, the major land deals in last two days were done by L& T Realty that acquired a 34- acre land parcel in Panvel near Mumbai from three different landowners in a transaction valued at over Rs 102 crore and by ILP 4 India 1 Private Limited that has purchased a land parcel in the Kurla, Mumbai for Rs. 193.5 crore from Shri Aditya Finwealth Private Limited.

Until now, L&T Realty has exclusively followed joint development agreements (JDAs) and joint venture (JV) partnerships to expand its portfolio, avoiding direct land acquisition. The land parcel, located in proximity to the riverfront, is currently designated as an industrial zone. However, it remains unclear whether the company intends to seek a change of land use for developing a residential project on the site or if it plans to utilise the plot for setting up a precast manufacturing facility to support its construction operations

ILP 4 India 1 Private Limited aquired plot in Kurla, located in the heart of Mumbai, which is a commercial and residential hub with excellent connectivity to key business districts such as BKC, Andheri, and Lower Parel. The locality benefits from its strategic position along the Central and Harbour railway lines, as well as proximity to international airport and major roads like the Eastern Express Highway and the upcoming metro corridors. With a mix of commercial and industrial estates, retail centres, and residential developments, Kurla continues to reinforcing its role as a vital growth corridor in the city.

ILP 4 India 1 Private Limited is a private infrastructure and construction company incorporated in 2019 under the Companies Act, 2013. ILP 4 India 1 is engaged in the Real Estate and Construction Industry. Shree Aditya Finwealth Private Limited is a private, unlisted, non-government company incorporated on 28th January 1955. With a legacy spanning over 70 years, it has been primarily engaged in the finance sector. The company remains actively operational to date.