Lodha Developers Acquires 945 Units in Mumbai’s Mankhurd for SRA Project
Real estate giant Lodha Developers has acquired 945 residential units in Mumbai’s Mankhurd, equivalent to around 50,000 square metres, to fulfill its commitment to the Slum Rehabilitation Authority (SRA).
Lodha DevelopersSlum Rehabilitation AuthorityReal EstateMankhurdPtc UnitsReal Estate MumbaiJun 18, 2025
According to transaction documents accessed by real estate data analytics firm CRE Matrix, the deal was registered on June 3. A stamp duty of around Rs 34 crore was paid for the transaction. Observers stated that the deal will allow Lodha to maximize the sale potential at its Vikhroli project, while at the same time, Arihant is able to liquidate a large part of its free sale inventory in one instance, bringing in significant cash flows.
Lodha will hand over the 945 units as permanent transit camp (PTC) units to SRA, which was mandated by the authority as per the SRA scheme for the Vikhroli project. According to industry observers, this has been one of the largest deals of its kind, where a developer fulfills the mandated PTC requirement for SRA by providing it on another land parcel.
The developer, on handing over the required PTC units, gets additional development rights for their projects, in the form of additional floor space index (FSI), allowing developers to build higher and supply more units. Such arrangements are permitted under Regulation 33(11) in the Development Control and Promotion Regulations, 2034, where developers are allowed to club allowable FSI between schemes, and transfer the unutilised FSI from one project to another to enable more construction, if the developers provide the required number of PTC units to the SRA.
PTCs are used by developers to house slum residents who have been temporarily displaced due to redevelopment or infrastructure projects. Under SRA schemes, existing and eligible slum residents or tenants are eligible to receive free and permanent homes on one component of a land parcel, while developers are free to develop and sell the rest of the land, or use or sell the development rights elsewhere through arrangements like Transferable Development Rights (TDR).
Moneycontrol has reached out to Lodha Developers for comment, and the story will be updated if a response is received.
Frequently Asked Questions
What is the purpose of the 945 units purchased by Lodha Developers?
The 945 units purchased by Lodha Developers will be handed over to the Slum Rehabilitation Authority (SRA) as permanent transit camp (PTC) units, as mandated for their Vikhroli project.
How much did Lodha Developers pay for the units?
Lodha Developers paid around Rs 567 crore for the 945 units in Mankhurd.
What is the significance of the PTC units in the SRA scheme?
PTC units are used to house slum residents who are temporarily displaced due to redevelopment or infrastructure projects. Under the SRA scheme, developers provide these units to the SRA to receive additional development rights.
What is the benefit for Lodha Developers in this deal?
By providing the PTC units, Lodha Developers will receive additional development rights in the form of additional floor space index (FSI), allowing them to build higher and supply more units in their projects.
What is the role of Arihant Construction Company in this deal?
Arihant Construction Company sold 945 units in their Mankhurd project to Lodha Developers, allowing them to liquidate a large part of their free sale inventory and bring in significant cash flows.
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