{"id":966,"date":"2025-04-15T11:37:55","date_gmt":"2025-04-15T06:07:55","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=966"},"modified":"2026-03-06T15:24:47","modified_gmt":"2026-03-06T09:54:47","slug":"mumbai-khadi-village-industries-association-sells-3-84-acre-borivali-land-parcel-for-%e2%82%b9539-crore","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/mumbai-khadi-village-industries-association-sells-3-84-acre-borivali-land-parcel-for-%e2%82%b9539-crore\/","title":{"rendered":"Mumbai Khadi & Village Industries Association Sells 3.84-Acre Borivali Land Parcel for \u20b9539 Crore"},"content":{"rendered":"\n

In a notable land deal in Mumbai\u2019s western suburbs, the Mumbai Khadi & Village Industries Association (MKVIA) has sold a 3.84-acre land parcel in Borivali West for over \u20b9539.25 crore. The buyer, a local real estate developer, secured the land through a competitive bidding process and has already made an upfront payment of \u20b952.25 crore, with the remaining \u20b9487 crore to be paid in tranches linked to construction milestones.<\/p>\n\n\n\n

This transaction follows MKVIA\u2019s strategic move to convert the land from Occupancy Class-II (a restricted tenure requiring government approvals for transfer) to freehold status. The conversion, completed in April and May 2024, involved a premium payment of \u20b951.7 crore to the government, granting the trust full ownership rights and enabling the sale.<\/p>\n\n\n\n

According to documents accessed via real estate data analytics firm CRE Matrix<\/a>, the final payment under the agreement is due upon receipt of the full occupation certificate or within 1,620 days from the registration of the conveyance deed – whichever is earlier. Flexibility for revising timelines has also been built into the contract.<\/p>\n\n\n\n

The deal was finalized after receiving clearance from the Charity Commissioner under the Maharashtra Public Trusts Act, with approvals granted through four separate orders dated January 8, 2025.<\/p>\n\n\n\n

This transaction reflects a broader trend of large-scale land acquisitions in Mumbai as developers aggressively pursue redevelopment and mixed-use opportunities in high-potential urban zones. With sustained demand for both residential and commercial spaces, land parcels in key localities like Borivali are attracting significant investor interest.<\/p>\n\n\n\n

India’s land market is witnessing strong momentum across metro cities like Mumbai, Delhi-NCR, and Bengaluru, where developers are focusing on luxury housing and mixed-use formats. Tier-2 cities are also emerging as hotspots for residential, plotted, and warehousing projects, driven by infrastructure development and evolving urban needs.<\/p>\n\n\n\n

Recent Land Transactions in Mumbai<\/strong><\/p>\n\n\n\n

Mumbai\u2019s real estate market continues to witness high-value land transactions. Recent deals, especially in prime suburbs, highlight the growing demand for residential and commercial projects. Developers are actively acquiring land parcels to capitalise on redevelopment opportunities and create mixed-use developments that cater to evolving urban needs.<\/p>\n\n\n\n

In a recent land deal, the Adani Group acquired a premium land parcel of more than 1.1 acres<\/a> in South Mumbai\u2019s ultra-affluent Carmichael Road for over \u20b9170 crore. In another transaction, Landmark Developers and Sobha Ltd. acquired a 2.11-acre land parcel<\/a> in Parel, Mumbai, for \u20b9423.38 crore.<\/p>\n\n\n\n

Elevate your decisions in real estate as a developer or broker with CRE Matrix\u2018s data-driven insights. Book a demo now<\/a>!<\/p>\n\n\n\n

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