Lodha Developers has entered into a joint development agreement (JDA) with the Sahana Group for the redevelopment of multiple land parcels spread across 10.26 acres in Mumbai’s Parel-Sewri corridor. The agreement, valued at Rs 364.81 crore, was registered on February 11, 2026, with Lodha paying Rs 37.2 crore in stamp duty.
The land parcel covers approximately 41,526 square metres and is located along Thackeray Jivraj Cross Road. The development will be undertaken under the Lodha brand, with the project expected to have a five-year construction timeline.
The agreement involves land with Slum Rehabilitation Authority (SRA) considerations. As part of the redevelopment process, rehabilitation buildings will first need to be provided for eligible existing occupants, following which commercial residential development can proceed.
The project adds to Lodha’s growing presence in central and South Mumbai, where redevelopment and infrastructure expansion are reshaping established neighbourhoods. The Parel-Sewri belt has witnessed increasing residential activity, supported by major connectivity projects and its proximity to established commercial districts.
Lodha has also registered Lodha Aureus Sewri with MahaRERA. The project, spread across five acres, comprises two towers offering three- and four-bedroom residences. It has 354 units across 56 floors, with possession targeted for December 2030.
For the new Parel-Sewri redevelopment, several regulatory and planning stages remain before commercial construction can progress. These include SRA-related approvals, rehabilitation planning, building permissions and other statutory clearances.
The JDA structure allows the developer and landowner to collaborate on redevelopment while sharing the project’s future revenue. According to the supplied report, Lodha will hold a 67% revenue share, while the Sahana Group’s share is stated as 37%.
The agreement is expected to add a sizeable redevelopment project to the Parel-Sewri pipeline. Its eventual scale, configuration and pricing will depend on approvals, rehabilitation requirements and detailed project planning.
With large redevelopment parcels becoming increasingly limited in central Mumbai, the project represents another significant addition to the transformation of the Parel-Sewri residential landscape. Further details regarding the number of homes, configurations, launch schedule and final pricing are expected to emerge as the planning and approval process progresses.
Source: Realty Promoo
