In a significant move aimed at scaling its Vikhroli township project in Mumbai, Lodha Developers Limited has acquired 945 permanent transit camp (PTC) apartments from Arihant Construction Company. The transaction, valued at ₹567 crore, was registered on June 3, 2025, and involves a built-up area of approximately 3.39 lakh sq ft in the Mankhurd locality.
This acquisition is part of Lodha’s broader strategy to fulfill its obligations under the Slum Rehabilitation Authority (SRA) scheme, allowing it to gain valuable construction rights for developing high-end residential spaces within Mumbai’s eastern suburbs.
Key Highlights of the Deal
Summary Table
| Particulars | Details |
|---|---|
| Buyer | Lodha Developers Limited (formerly Macrotech Developers) |
| Seller | Arihant Construction Company |
| Location | Mankhurd, Mumbai |
| Units Acquired | 945 Permanent Transit Camp (PTC) Units |
| Total Area | ~3.39 lakh sq ft |
| Transaction Value | ₹567 crore |
| Purpose | SRA obligations for Lodha’s Vikhroli project |
| Stamp Duty | ₹34.02 crore |
| Registration Date | June 3, 2025 |
| Regulatory Framework | DCPR 2034, Regulation 33(11) |
Purpose Behind the Acquisition
Lodha’s acquisition of the transit units is not just a real estate transaction but a strategic maneuver within the regulatory framework of the Development Control and Promotion Regulations (DCPR) 2034, particularly Regulation 33(11). This rule enables the clubbing of Floor Space Index (FSI) between schemes, especially for integrated development under slum rehabilitation.
The company intends to transfer these PTC units to the SRA, fulfilling its mandated obligations and unlocking the ability to construct free-sale residential and amenity spaces in its Vikhroli township project.
Arihant Construction’s Role in the Deal
Arihant Construction is executing a major slum rehabilitation project in Mankhurd, which includes over 83,000 sq m of free-sale component. The 945 transit units form part of this scheme and are being monetized by Arihant to support Lodha’s SRA-linked development rights.
Regulatory Framework and FSI Transfer
The deal hinges on the transfer of free-sale FSI, a provision enabled under DCPR 2034, allowing unused FSI from Arihant’s Mankhurd project to be utilized by Lodha in its Vikhroli project. This not only facilitates slum redevelopment but also drives vertical urban growth in high-demand localities.
Company Rebranding: Macrotech Becomes Lodha Developers
On June 16, 2025, the company formerly known as Macrotech Developers Ltd officially rebranded to Lodha Developers Limited, following a settlement of a trademark dispute with Abhinandan Lodha, founder of the ‘House of Abhinandan Lodha’.
“As per the agreement, the listed entity now holds the exclusive right to use the brand names ‘Lodha’ and ‘Lodha Group’. The two entities are unrelated and will continue operating independently,” the company stated in a regulatory filing.
This move cements Lodha’s brand identity in the market and aligns its corporate and commercial presence under one unified name.
FAQ Section
Q1: What is a Permanent Transit Camp (PTC) unit?
A: PTC units are temporary housing provided to slum dwellers or tenants displaced during redevelopment. In this case, they are being transferred to the SRA to meet project obligations.
Q2: Why did Lodha acquire the units from Arihant Construction?
A: The acquisition allows Lodha to fulfill SRA requirements for its Vikhroli project, unlocking additional FSI for saleable construction.
Q3: What is the role of the Slum Rehabilitation Authority (SRA)?
A: The SRA facilitates slum redevelopment by offering free permanent housing to eligible residents while permitting developers to construct and sell commercial/residential units on surplus land.
Q4: What does Regulation 33(11) under DCPR 2034 entail?
A: It allows developers to transfer unused FSI between projects for integrated development, commonly used in slum rehabilitation initiatives.
Q5: What’s the significance of Lodha’s rebranding from Macrotech Developers?
A: The name change aligns with the company’s dominant brand identity and follows a trademark resolution with Abhinandan Lodha, reinforcing market clarity.