Lodha Developers has signed a joint development agreement (JDA) worth ₹364.8 crore with the Sahana Group to develop a 10-acre land parcel in the Parel–Sewri belt of Mumbai, strengthening its presence in one of the city’s most active redevelopment zones.
The agreement, registered earlier this month, covers a total land area of 41,526.07 sq m. The plots are owned by Sahana entities, while Lodha will lead the planning, construction and sales of the proposed project. The transaction also involved a stamp duty payment of over ₹37 crore, indicating the scale and value of the development.
The project is expected to be positioned as a premium residential offering and is likely to be launched within the current quarter, according to industry sources. The Parel–Sewri micro-market has seen strong traction in recent years due to its central location, improving infrastructure and proximity to key commercial hubs such as Lower Parel and the eastern waterfront.
Real estate experts say the deal highlights the increasing reliance on joint development models in Mumbai, where limited availability of large freehold land parcels pushes developers to partner with landowners. Such arrangements allow developers to expand their project pipeline with lower upfront land acquisition costs while enabling landowners to monetise underutilised assets.
The central Mumbai corridor has been undergoing rapid transformation driven by metro connectivity, road upgrades and large-scale redevelopment of old industrial and slum pockets. This has attracted branded developers and boosted demand for high-end housing from professionals seeking homes close to business districts.
Lodha Developers has been actively entering into redevelopment and joint development deals to maintain a steady supply of projects in the Mumbai Metropolitan Region. This the new project adds to its future launch inventory and aligns with its strategy of focusing on high-value urban locations with strong absorption potential.
Also Read: ₹590 crore fraud reported at IDFC First Bank