Lodha Developers Ltd has signed a joint development agreement to redevelop a 10.26-acre land parcel in Mumbai’s Parel–Sewree area, in partnership with Sahana Properties and Resorts Pvt Ltd and Sahana Builders and Developers Pvt Ltd. The deal, registered on February 11, is valued at Rs 365 crore.
The project will be executed under the Slum Rehabilitation Authority (SRA) framework, with developers first building rehabilitation housing for over 1,200 existing residents before constructing premium residential towers for sale.
The development reflects growing redevelopment activity in Mumbai, where land scarcity is driving developers to unlock value through slum and society redevelopment projects.
The project is expected to feature premium three- and four-bedroom apartments and further strengthen Lodha’s presence in infrastructure-led micro-markets of the city.