₹365 crore deal: Lodha to redevelop 10.26 acres in Mumbai's Sewree corridor

In a significant land aggregation move in central Mumbai, Lodha Developers has entered into a Joint Development Agreement (JDA) worth ₹364.80 crore for multiple land parcels in the Parel–Sewree division of Mumbai.

 

Lodha Developers has entered the JV with Sahana Properties & Resorts and Sahana Builders & Developers to develop land parcels spread over 10.26 acres.

 

The agreement, registered on February 11, 2026, involves approximately 41,526.07 square metres (over 4.15 lakh sq. ft.) of land and has attracted a stamp duty payment of ₹37.20 crore, underlining the scale of the transaction.

 

The landowners in the deal are Sahana Properties and Resorts Private Limited and Sahana Builders and Developers Private Limited.

 

The JDA spans two major clusters with multiple housing societies and is a proposed slum redevelopment project under the Slum Rehabilitation Authority (SRA), as per the documents. On Plot A, for instance, there are 1216 slum dwellers grouped into 11 societies.

 

The documents show that, as part of the JDA, the revenue sharing between the two companies is set at 67 per cent for Lodha Developers and 37 per cent for Sahana Group of Companies. According to the documents, the project's construction period is five years.

 

The total land area is 41,526 sq mtrs, and the project will come up under the brand name Lodha, the documents show.

 

Lodha and Sahana will construct rehabilitation buildings for the existing dwellers, and then build towers for sale on the land.

 

“This joint development agreement in the Sewree–Parel belt, with a consideration value of ₹365 crore and ₹37 crore stamp duty, reflects sustained institutional interest in Mumbai’s eastern corridor," said Abhishek Kiran Gupta, chief executive officer, CRE Matrix.

 

 “Data from CRE Matrix indicates steady land value resilience in infrastructure-led micro-markets despite elevated acquisition costs, signalling continued long-term confidence in Mumbai’s redevelopment-driven housing demand.”

 

The Parel–Sewree belt has emerged as one of Mumbai’s most strategic redevelopment corridors, benefiting from proximity to South Mumbai, BKC, the Eastern Freeway and the upcoming infrastructure upgrades in the eastern waterfront region.

 

Lodha will reportedly build a premium residential project with three-and-four bedroom apartments on the land.