The real estate development arm of the Aditya Birla Group has acquired a prime land parcel in South Mumbai’s upmarket residential area, Walkeshwar at Malabar Hill.

This is the second South Mumbai property acquired by the Aditya Birla Group. The land is spread over one-fourth of an acre along with over 12,500 sq ft of construction across ground plus three floors for about Rs 162.30 crore.

While the company has announced its plan to develop a luxury residential project on the newly acquired plot in Walkeshwar, it did not disclose the plot and deal size.