Lodha Developers Secures Development Rights for Malabar Hill Property
Lodha Developers, India’s second-largest listed real estate developer, has secured the development rights for a property in the prestigious Malabar Hill area of Mumbai. The deal, valued at approximately Rs 106.12 crore, includes significant assets and strategic advantages for the company.
According to the agreement, signed with the Sorabji Kanga Charity Trust, the landowner, the transaction encompasses 5,017 square metres of Real Estate Regulatory Authority (RERA) carpet area, 150 car parking spaces, and a 42.5% trust share in the development. The market value of the property is estimated at Rs 621.71 crore, with Lodha paying Rs 37.42 crore in stamp duty. The agreement was finalized on January 7, 2026.
The total land area of the property measures 17,403.20 square metres. It currently features a chawl, the Palacimo Co-operative Housing Society, and six bungalows. As per the agreement, Lodha will undertake the redevelopment of the land, excluding the cooperative housing society.
The permissible Floor Space Index (FSI) for the land is 4.0. In line with the Development Control and Promotion Regulation (DCPR) 2034 norms, Lodha will also transfer 38,990.48 square metres of area to the Maharashtra Housing and Area Development Authority (Mhada).
Malabar Hill is a premium real estate micro-market in Mumbai, known for its high-value properties and prime location. In 2025, the area recorded 41 new sale transactions with a gross sales value of Rs 1,038 crore, according to Square Yards Data Intelligence. As of the fourth quarter of 2025 (Q4 2025), the average property rate in Malabar Hill stood at Rs 137,500 per square foot, marking a significant increase from Rs 98,566 per square foot in the same quarter of the previous year.
This acquisition is part of Lodha’s broader strategy to expand its portfolio in Mumbai, a city with a robust real estate market. Recently, the company signed a joint development agreement with Sahana Properties and Resorts and Sahana Builders and Developers to develop land in Mumbai for a consideration of Rs 364.80 crore. The agreement covers multiple land parcels totaling 41,526.07 square metres in the Parel-Sewree division of Mumbai.
Lodha Developers, founded in 1980, is one of the largest and most reputable real estate developers in India. The company has a diverse portfolio of projects, ranging from luxury residential complexes to commercial spaces and integrated townships. With this latest acquisition, Lodha continues to solidify its position in the premium real estate segment of Mumbai.
