Lodha Developers acquires 945 transit camp apartments measuring 3.29 lakh sq ft for ₹567 crore from Arihant in Mumbai
Lodha Developers’ purchase of 945 transit camp housing units from Arihant Construction will allow it to integrate the FSI into its Vikhroli project
Mumbai-based listed real estate developer Lodha Developers Limited has purchased 945 permanent transit camp (PTC) units, spanning over 3.39 lakh sq ft, from Arihant Construction Company in Mumbai's Mankhurd area for ₹567 crore, according to property registration documents accessed by CRE Matrix.
The deal is linked to Lodha’s ongoing project in Vikhroli, where, under the Slum Rehabilitation Authority (SRA) scheme, the developer is required to hand over a portion of built-up space to the SRA in exchange for additional construction rights for sale in the open market.
Arihant Construction, which is undertaking a slum rehabilitation project in Mankhurd with over 83,000 sq m of free-sale component, is supplying these PTC units. To meet its obligations, Lodha will transfer the acquired units to the SRA.
The documents show that the transaction forms part of a larger deal involving the transfer of free sale Floor Space Index (FSI) under the Development Control and Promotion Regulations (DCPR) 2034.
Transit camp units are temporary housing accommodations provided to people, typically slum dwellers or tenants, who are displaced due to redevelopment projects, especially under slum rehabilitation or infrastructure development schemes.
Slum Rehabilitation Authority (SRA) scheme is a government initiative aimed at redeveloping slum areas in Mumbai by providing free, permanent housing to eligible slum dwellers while allowing private developers to construct and sell residential/commercial units for profit on the remaining land
The agreement allows Lodha to integrate the acquired Floor Space Index (FSI) into its own Vikhroli project, enabling the use of Arihant’s free sale rights to develop residential and amenity spaces within the township. The transaction was registered on June 3, 2025, with a stamp duty of ₹34.02 crore and registration fees of ₹30,000 paid.
According to the documents, the arrangement falls under Regulation 33(11) of the DCPR 2034, which permits the clubbing of FSI between schemes for integrated development. This provision allows developers to transfer and utilise unused FSI from one project to another, a mechanism commonly used in redevelopment and slum rehabilitation projects across Mumbai.
An email query has been sent to Lodha Developers Limited. If a response is received, the story will be updated. Arihant Construction Company could not be reached for comment.
Macrotech Developers rebrands company’s name to Lodha Developers Limited
The company announced in a regulatory filing that it would rebrand from Macrotech Developers Limited to Lodha Developers Limited, effective June 16.
Also Read: Macrotech Developers rebrands company's name to Lodha Developers Limited
The company said that Abhishek Lodha-led firm Macrotech Developers Ltd received approval from the Registrar of Companies to change the name almost two months after settling the trademark dispute with the younger brother, who owns House of Abhinandan Lodha. They had settled the dispute on April 14.
Also Read: Lodha Group eyes growth in Bengaluru with five new projects in FY2026
According to the agreement reached between the two brothers, listed entity Macrotech Developers Ltd is the owner of and has the exclusive right to use the brand names 'Lodha' and 'Lodha Group'. Abhinandan Lodha is the owner of and has the exclusive right to use the brand name 'House of Abhinandan Lodha'. Lodha Group and 'House of Abhinandan Lodha' have no connection with each other, and both entities decided to communicate this widely, they said in a statement.
