Real estate transaction cost needs to be brought down: Abhishek Lodha

The managing director of Mumbai-based Lodha Developers says it is a misnomer that real estate market is depressed; only the buyers are now shifting more towards quality homes

Mumbai based Lodha Developers, with estimated sales of Rs 85 billion in 2017-18, over 20 per cent higher than in the previous financial year, is one of the largest real estate players in the country. At a time when India’s residential real estate market is seeing its biggest demand slump since 2010, the company, promoted by lawyer-turned-businessman Mangal Prabahat Lodha, now a sitting Bharatiya Janata Party (BJP) member of legislative Assembly (MLA) from the affluent Malabar Hills constituency in South Mumbai, has become a consolidator.

Abhishek Lodha, from the next generation of the Lodha family, now managing director of the