In a strategic move that underscores renewed confidence in Mumbai’s redevelopment-led real estate growth, Lodha Developers Ltd has signed a Joint Development Agreement (JDA) worth approximately ₹364.8 crore with entities of the Sahana Group to develop land in the Parel–Sewri belt of central Mumbai.
Under the agreement, Lodha Developers will collaborate with Sahana Properties & Resorts Pvt Ltd and Sahana Builders and Developers Pvt Ltd to undertake development across around 10.26 acres (about 41,526 sq metres) of land in one of Mumbai’s most sought-after redevelopment corridors.
The deal was officially registered on February 11, 2026, with stamp duty exceeding ₹37 crore paid at the time of registration — highlighting the scale and seriousness of the transaction.
Strategic Realty Play in Central Mumbai
The Parel–Sewri belt has emerged over recent years as one of central Mumbai’s most strategic land corridors due to its proximity to South Mumbai business districts, Bandra-Kurla Complex (BKC), and major transportation links like the Eastern Freeway. Limited availability of large contiguous land parcels in this corridor has increased the appeal of joint development structures that allow developers to unlock value through partnerships with landowners.
Rather than outright land purchases, such JDAs enable developers like Lodha to build residential and mixed-use projects while sharing future revenue with land partners. According to the agreement terms, Lodha Developers will receive the larger share of future sale proceeds, with revenue sharing structured in its favour — a setup that aligns incentives and ensures balance sheet stability.
The partnership with Sahana Group — a landowner experienced in local redevelopment efforts — reflects broader trends in the region where large developers are increasingly entering collaborative arrangements to manage land scarcity and high acquisition costs.
Slum Redevelopment and Housing Creation
According to filings and real estate data analytics, parts of the Parel–Sewri land involved in this agreement are proposed slum redevelopment sites under the Slum Rehabilitation Authority (SRA), meaning that new construction will include rehabilitation buildings for existing dwellers before premium towers for sale are developed. This socially oriented redevelopment model aligns with Mumbai’s broader urban renewal goals.
The project’s construction timeline is set at five years, reflecting the complexity of on-ground work, regulatory coordination, and the scale of construction activity involved.
What This Means for Lodha Developers
For Lodha Developers, this JDA is not just a land acquisition but a strategic bet on the enduring appeal of central Mumbai’s residential demand. The project will be branded under the company’s Lodha banner, adding a premium address to its growing portfolio of developments in Mumbai and other key Indian cities.
The agreement also complements the company’s broader strategy of acquiring land through diverse means — such as outright purchases, JDAs, and redevelopment deals — to build a robust pipeline of future developments.
Future Outlook
As Mumbai’s redevelopment market continues to evolve, partnerships like this between large developers and local landowners are likely to increase. For homebuyers and investors, Lodha’s project in Parel–Sewri represents not only a new housing opportunity but also a sign of confidence in the city’s urban renewal and real estate momentum.
