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In a significant move to bolster its real estate footprint, Lodha Developers Limited has acquired 945 permanent transit camp (PTC) apartments spanning 3.29 lakh sq ft from Arihant Construction Company. This ₹567 crore transaction, registered on June 3, 2025, represents a strategic step in Lodha’s broader development plans, particularly under the Slum Rehabilitation Authority (SRA) scheme.
Key Details of the Acquisition
The purchased units, located in Mumbai's Mankhurd area, are part of a redevelopment initiative managed by Arihant Construction. These units will be transferred to the SRA, fulfilling Lodha Developers’ obligations under the ongoing Vikhroli project. This transaction also involves a stamp duty payment of ₹34.02 crore and a registration fee of ₹30,000, as per official property registration documents accessed by CRE Matrix.
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Strategic Purpose of the Acquisition
This acquisition plays a vital role in Lodha Developers’ strategy to maximize the Floor Space Index (FSI) for its Vikhroli project. Under the SRA scheme, developers gain additional construction rights by providing built-up space to the SRA, allowing them to create more saleable units in the open market.
By integrating the acquired FSI into its Vikhroli township, Lodha will expand its capacity to develop premium residential and amenity spaces. The deal operates under Regulation 33(11) of the Development Control and Promotion Regulations (DCPR) 2034, which permits the transfer and utilization of unused FSI for integrated developments—a common practice in Mumbai’s redevelopment projects.
Arihant Construction’s Role
Arihant Construction is responsible for a slum rehabilitation project in Mankhurd with over 83,000 square meters of free-sale component. The company provided these PTC units to Lodha Developers as part of its commitments under the SRA framework. This collaboration underscores the symbiotic relationship between developers in achieving large-scale urban redevelopment.
Relevance of the SRA Scheme
The SRA scheme is a government initiative aimed at transforming slum areas in Mumbai. By providing free, permanent housing to eligible slum dwellers, the scheme enables private developers to leverage additional FSI for commercial gains. The acquired transit camp units exemplify this approach, offering temporary housing for displaced slum residents while paving the way for new developments.
Benefits for Lodha Developers
- Enhanced Development Potential: The integration of additional FSI into the Vikhroli project allows Lodha to scale its residential and amenity offerings.
- Strategic Expansion: The acquisition strengthens Lodha’s ability to cater to Mumbai's growing demand for high-quality housing.
- Compliance with Regulations: Leveraging Regulation 33(11) ensures adherence to urban planning norms while optimizing development outcomes.
Lodha’s Recent Rebranding and Growth Strategy
The acquisition comes on the heels of Lodha Developers’ recent rebranding from Macrotech Developers Limited, effective June 16, 2025. This rebranding aligns with the company’s vision to consolidate its leadership in India’s real estate sector.
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Implications for Mumbai Real Estate
This transaction reflects the innovative use of government-backed schemes like the SRA to address housing challenges in densely populated cities like Mumbai. Lodha Developers’ strategic approach demonstrates how private developers can balance compliance, profitability, and social impact.
By acquiring these transit camp units, Lodha not only fulfills its SRA obligations but also strengthens its position as a key player in Mumbai's real estate market, setting a benchmark for future redevelopment projects.
Conclusion
The ₹567 crore acquisition of 945 transit camp apartments by Lodha Developers marks a pivotal moment in Mumbai’s urban redevelopment narrative. It highlights the potential of public-private partnerships to address housing needs while unlocking new opportunities for growth.
With its robust planning and adherence to regulatory frameworks, Lodha Developers is poised to make significant contributions to Mumbai's skyline and set new standards for integrated urban development.
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Ans 1. Lodha Developers has acquired 945 permanent transit camp apartments in Mankhurd, Mumbai, spanning a total area of 3.29 lakh square feet. This acquisition, valued at ₹567 crore, was part of a redevelopment initiative under the Slum Rehabilitation Authority (SRA) scheme.
Ans 2. The seller was Arihant Construction Company, which developed the transit camp units as part of its commitments under the SRA framework. These units are being transferred to the SRA to fulfill Lodha’s obligations in its ongoing Vikhroli project.
Ans 3. This acquisition allows Lodha Developers to maximize Floor Space Index (FSI) for its Vikhroli township project. Under the SRA scheme, providing built-up space to the SRA enables developers to gain additional construction rights, which they can use to create more saleable residential and amenity spaces.
Ans 4. The acquisition enhances Lodha’s development potential in the Vikhroli project by integrating additional FSI, enabling the company to scale its residential offerings. It also aligns with Lodha’s growth strategy and helps meet its regulatory obligations under urban redevelopment norms.
Ans 5. The SRA scheme facilitates the redevelopment of slum areas by providing free housing for eligible slum dwellers. Developers, in turn, gain additional FSI, which they can use for commercial and residential developments. The transit camp units acquired by Lodha are part of this framework, offering temporary housing while enabling large-scale redevelopment.
Ans 6. Regulation 33(11) of the Development Control and Promotion Regulations (DCPR) 2034 permits the transfer and utilization of unused FSI for integrated developments. This provision allows Lodha to incorporate the acquired FSI into its Vikhroli township project, optimizing the development potential.
Ans 7. The additional FSI obtained through this transaction enables Lodha to expand the scale of its Vikhroli township, including premium residential units and enhanced amenities. This aligns with the company’s vision to deliver high-quality housing in Mumbai.
Ans 8. Lodha Developers recently rebranded itself from Macrotech Developers Limited. The rebranding reflects the company’s intent to consolidate its leadership position in India’s real estate sector and align its identity with its ambitious growth strategies.