Real estate developer K Raheja Corp has acquired a 3.72-acre land parcel on LBS Marg in Mulund locality of Mumbai for Rs 130 crore. The land will be used to develop a premium residential project and the company has paid stamp duty of Rs 7.80 crore for the registration of the deal.

To fulfil the obligations, the developer has paid Rs 105 crore to the erstwhile landowner, and the balance Rs 25 crore will be paid after nine months from the execution of the deed or within three days of receiving the commencement certificate, whichever is earlier.

Recently, K Raheja Corp entered into a development agreement with Cinevista for a luxury housing project in Kurla, Mumbai. Furthermore, the company's arm K Raheja Corp Homes had acquired BR House to redevelop into an ultra-luxury project in Mumbai’s Juhu area.

As per recent data, of the 2,181 acres of land transacted between January 2022 and May 2023, around 84 percent is for proposed residential developments.