Lodha Buys Rs 5.67 Billion Transit Units in Mankhurd

Mumbai-based listed real estate developer Lodha Developers Limited has acquired 945 permanent transit camp (PTC) units measuring 339,000 square feet from Arihant Construction Company for Rs 5.67 billion. The transaction, registered on 3 June 2025, is part of Lodha’s obligations under the Slum Rehabilitation Authority (SRA) scheme related to its ongoing township project in Vikhroli.

The acquired units in Mankhurd will be handed over to the SRA to secure development rights for free-sale construction under the Vikhroli project. The deal includes a stamp duty payment of Rs 340.2 million and registration fees of Rs 30,000, according to property documents accessed via CRE Matrix.

Arihant Construction is currently executing a large slum rehabilitation project in Mankhurd, with a free-sale component exceeding 83,000 square metres. The PTC units are part of the mandatory housing provided to eligible slum dwellers displaced during redevelopment works.

This transaction falls under Regulation 33(11) of the Development Control and Promotion Regulations (DCPR) 2034, which allows the transfer and integration of Floor Space Index (FSI) between different redevelopment projects. It enables Lodha to incorporate Arihant’s free-sale FSI into its Vikhroli township, thereby optimising development potential across the site.

The SRA scheme, a key urban redevelopment initiative in Mumbai, aims to provide permanent housing for slum dwellers while allowing private developers to profit from the sale of remaining developed land.

Meanwhile, Lodha Developers Limited—previously known as Macrotech Developers Limited—officially adopted its new brand name on 16 June 2025 after receiving regulatory approval. This followed the resolution of a trademark dispute between Managing Director Abhishek Lodha and his younger brother Abhinandan Lodha.

Under the settlement agreement reached on 14 April 2025, Macrotech Developers Ltd retains exclusive rights to use the brand names 'Lodha' and 'Lodha Group'. Abhinandan Lodha continues to operate under 'House of Abhinandan Lodha', with both parties confirming that their respective businesses remain entirely independent