Lodha’s Strategic Move: Transforming Mumbai’s Urban Landscape

A Landmark Transaction for Mumbai’s Redevelopment

In a milestone for Mumbai’s real estate sector, Lodha Developers has acquired 945 transit camp apartments, spanning over 3.39 lakh sq. ft., from Arihant Construction for ₹567 crore in Mankhurd. This high-value transaction, registered on June 3, 2025, with a stamp duty of ₹34.02 crore, stands as one of the largest SRA-linked asset transfers in the city’s history, marking a new chapter in the evolution of Mumbai’s urban renewal.

Empowering Redevelopment Through Strategic Partnerships

The acquisition is directly tied to Lodha’s ongoing project in Vikhroli, where the Slum Rehabilitation Authority (SRA) mandates the developer to hand over a portion of built-up space in exchange for additional construction rights. By sourcing these permanent transit camp (PTC) units from Arihant’s Mankhurd project—which boasts over 83,000 sq. m. of free-sale component—Lodha can meet its compliance obligations efficiently, while Arihant monetizes a significant part of its inventory.

Unlocking Value Through Integrated Development

This transaction is underpinned by Regulation 33(11) of the Development Control and Promotion Regulations (DCPR) 2034, which allows the clubbing of Floor Space Index (FSI) between projects. By integrating Arihant’s free-sale FSI into its Vikhroli township, Lodha gains the flexibility to develop additional residential and amenity spaces, optimizing both land use and project timelines.

Transit Camps: A Bridge to a Brighter Future

Transit camp units serve as temporary housing for slum dwellers and tenants displaced during redevelopment. Under the SRA scheme, these units are a critical step toward providing eligible families with new, permanent homes at no cost, while private developers are incentivized to participate through the opportunity to sell commercial and residential units on the remaining land.

A Vision for Inclusive Growth

The SRA scheme is reshaping Mumbai’s skyline, transforming informal settlements into modern, well-planned communities. By converting slum areas into organized residential and commercial spaces, the initiative addresses the city’s acute housing shortage and improves infrastructure, making neighborhoods safer and more livable. The collaboration between developers like Lodha and Arihant exemplifies how public-private partnerships can drive meaningful urban transformation.

Setting a New Standard for Urban Renewal

With this strategic acquisition, Lodha Developers not only accelerates its own project timelines but also sets a precedent for asset-backed compliance in Mumbai’s redevelopment landscape. As Mumbai continues to evolve, such transactions are expected to rise, fueled by tighter delivery deadlines and increasingly stringent regulatory frameworks.