Lodha’s Landmark Mankhurd Acquisition: Paving the Way for Urban Renewal

A Bold Move for Mumbai’s Transformation

In a significant step toward Mumbai’s urban renewal, Lodha Developers Limited—one of the city’s most prominent real estate developers—has acquired 945 permanent transit camp (PTC) units from Arihant Construction Company for ₹5.67 billion. The transaction, covering 339,000 square feet and registered on June 3, 2025, marks a pivotal moment in Lodha’s ongoing township project in Vikhroli, fulfilling its obligations under the Slum Rehabilitation Authority (SRA) scheme.

Unlocking Development Potential

The acquisition of these Mankhurd units enables Lodha to secure development rights for free-sale construction within its Vikhroli township. By integrating the Floor Space Index (FSI) from Arihant’s project—as permitted under Regulation 33(11) of the Development Control and Promotion Regulations (DCPR) 2034—Lodha optimizes its development potential, ensuring a more efficient and impactful use of urban space. The deal also involved stamp duty of ₹340.2 million and registration fees of ₹30,000.

Arihant’s Role in Urban Redevelopment

Arihant Construction is currently spearheading a major slum rehabilitation project in Mankhurd, with a free-sale component exceeding 83,000 square meters. The PTC units acquired by Lodha are essential for providing permanent housing to eligible slum dwellers displaced during redevelopment, underscoring the collaborative spirit of Mumbai’s urban regeneration efforts.

The SRA Scheme: A Catalyst for Change

The SRA scheme stands at the heart of Mumbai’s urban redevelopment strategy, offering a dual benefit: permanent housing for slum dwellers and lucrative opportunities for private developers. By participating in this initiative, Lodha is not only advancing its own projects but also contributing to the city’s broader vision of inclusive, sustainable growth.

A New Chapter for Lodha

The transaction coincides with Lodha Developers Limited officially adopting its new brand name on June 16, 2025, following regulatory approval and the resolution of a trademark dispute between Managing Director Abhishek Lodha and his younger brother Abhinandan Lodha. Under the settlement, Macrotech Developers Ltd retains exclusive rights to the ‘Lodha’ and ‘Lodha Group’ brands, while Abhinandan Lodha operates independently as ‘House of Abhinandan Lodha’.

A Vision for Mumbai’s Future

This landmark acquisition and the ongoing Vikhroli township project exemplify Lodha’s commitment to shaping Mumbai’s skyline while addressing the city’s pressing need for affordable, quality housing. Through strategic partnerships, regulatory compliance, and a focus on community impact, Lodha continues to set new standards for urban development in India’s financial capital.