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Mumbai: Lodha Developers inks ₹364 crore joint development agreement with Sahana Group for 10-acre Parel–Sewri land
Mumbai real estate update: Lodha Developers has signed a joint development agreement with two companies of the Sahana Group
Mumbai-based listed real estate developer Lodha Developers Limited has signed a joint development agreement (JDA) for multiple land parcels spanning over 10 acres in the Parel–Sewri belt of central Mumbai. The ₹364 crore agreement has been executed with two Sahana Group entities, Sahana Properties and Resorts Pvt Ltd and Shahana Builders and Developers Pvt Ltd, according to property registration documents accessed by CRE Matrix.
The transaction was registered on February 11, 2026, and a stamp duty of over 37 crore was paid, according to the documents.
The documents show that, as part of the JDA, the revenue sharing between the two companies is set at 67 per cent for Lodha Developers and 37 per cent for Sahana Group of Companies. According to the documents, the project's construction period is five years.
The total land area is 41,526 sq mtrs, and the project will come up under the brand name Lodha, the documents show.
“We have entered into a deal with Sahana Group. We will be launching a premium development this quarter. We not only deliver the very best but are also known for being amongst the most trusted companies across the globe," said a spokesperson of Lodha Developers Ltd.
An email query has been sent to the Sahana Group. The story will be updated if a response is received.
Abhishek Lodha on the redevelopment race in the Mumbai real estate market
Mumbai-based real estate developer Lodha Developers' CEO and MD, Abhishek Lodha, was in the news last week for stating that while pockets of Mumbai are witnessing heavy redevelopment, resulting in oversupply, the overall sales performance and buyer interest continue to be driven by the strength of the Lodha brand and its ability to deliver high-quality projects on time.
"We believe that while there are pockets of oversupply in Mumbai, the demand for the kind of product that we do and the lifestyle standards that we offer is really strong," Lodha had said.
“On the demand side, we see footfalls and conversions remaining steady through the course of the last few quarters and in line with what we would have expected at the start of the year. On the reasoning for it, because one hears about the fact that there is, in pockets of Mumbai, lots of redevelopment happening and therefore, the fact that oversupply could be happening in pockets," he said during a recent earnings call while addressing questions regarding current demand, footfalls, and conversions in the Mumbai real estate market.
