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Housing

Lodha Developers Acquires 945 Permanent Transit Camp Units for Rs.567 Crore

Strategic Insights

— 1 min read

In a move linked to its ongoing project in Vikhroli, Mumbai-based Lodha Developers Limited has purchased 945 permanent transit camp (PTC) units from Arihant Construction Company in Mankhurd for Rs.567 crore. The acquisition is part of Lodha's obligations under the Slum Rehabilitation Authority (SRA) scheme, which requires the developer to hand over built-up space to the SRA in exchange for additional construction rights. The deal involves the transfer of free-sale Floor Space Index (FSI) under the Development Control and Promotion Regulations (DCPR) 2034.

Key Takeaways:

  • Lodha Developers Limited has purchased 945 permanent transit camp (PTC) units from Arihant Construction Company in Mankhurd for Rs.567 crore.
  • The acquisition is linked to Lodha's ongoing project in Vikhroli, where the developer is required to hand over built-up space to the Slum Rehabilitation Authority (SRA) under the SRA scheme.
  • The deal involves the transfer of free-sale Floor Space Index (FSI) under the Development Control and Promotion Regulations (DCPR) 2034.
  • The transaction enables Lodha to integrate the acquired FSI into its own Vikhroli project, allowing for the development of residential and amenity spaces within the township.
  • The agreement falls under Regulation 33(11) of the DCPR 2034, which permits the clubbing of FSI between schemes for integrated development.
  • The transaction was registered on June 3, 2025, with a stamp duty of Rs.34.02 crore and registration fees of Rs.30,000 paid.
  • The acquisition is part of a larger deal involving the transfer of free sale FSI, aimed at meeting Lodha's obligations under the SRA scheme.
  • Arihant Construction Company is undertaking a slum rehabilitation project in Mankhurd with over 83,000 sq m of free-sale component.
  • The transaction was registered with the Mumbai Sub-Registrar, having jurisdiction over the Mankhurd sub-registrations, for payment of a stamp duty of Rs.34.02 crore and registration fees of Rs.30,000.

Statistics:

  • 945 permanent transit camp (PTC) units purchased by Lodha Developers Limited from Arihant Construction Company.
  • Rs.567 crore total consideration for the acquisition.
  • Rs.34.02 crore stamp duty paid for the transaction.
  • Rs.30,000 registration fees paid for the transaction.
  • June 3, 2025 - date of registration for the transaction.

Sources:

  • Property registration documents accessed by CRE Matrix.
  • Regulatory filing by Arihant Construction Company.
  • Statement by Macrotech Developers Limited to the Registrar of Companies.
  • Hindustan Times article, published with permission from HT Digital Content Services.

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