Lodha Developers Signs ₹364.80 Crore JDA with Sahana Group for 10.26-Acre Parel–Sewree Slum Redevelopment in Mumbai
Lodha Signs ₹364.80 Crore Development Agreement in Central Mumbai
Lodha Developers has entered into a Joint Development Agreement (JDA) worth ₹364.80 crore with Sahana Properties & Resorts and Sahana Builders & Developers to develop land parcels spanning 10.26 acres in the Parel–Sewree division of Mumbai. The agreement, registered on February 11, 2026, involves approximately 41,526.07 square metres of land, with stamp duty payment of ₹37.20 crore reflecting the scale of the transaction.
Slum Redevelopment Structure
The JDA spans two major clusters with multiple housing societies and is a proposed slum redevelopment project under the Slum Rehabilitation Authority (SRA). On Plot A, there are 1,216 slum dwellers grouped into 11 societies. Lodha and Sahana will construct rehabilitation buildings for the existing dwellers, and then build towers for sale on the land.
According to the documents, the project's construction period is five years. The planned project will primarily comprise three- and four-bedroom apartments. The project will come up under the brand name Lodha.
Revenue Sharing and Deal Terms
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. The transaction structure reflects Lodha's preferred approach: the company acquires land through multiple routes, including joint development agreements, outright purchases, and redevelopment projects.
The Parel–Sewree Corridor as a Growth Zone
The Mumbai Trans Harbour Link (MTHL), which originates near Sewri and establishes direct connectivity with Navi Mumbai, has significantly enhanced cross-harbour accessibility, positioning the area as a strategic mobility gateway within the Mumbai Metropolitan Region. The Sewri-Worli Connector is 57% complete and expected to finish by late 2026.
The Parel Sewri stretch in central-eastern Mumbai is witnessing a gradual repositioning as a potential luxury residential micro-market, driven by large-scale infrastructure upgrades and land availability. Enhanced regional connectivity and the phased unlocking of large land parcels are enabling developers to envision integrated projects that seamlessly combine residential, commercial and lifestyle components at scale, expanding Mumbai's luxury housing landscape beyond its traditional micro-markets while also supporting the transformation of the eastern waterfront into a structured urban growth corridor.
Average property prices in Parel stood at ₹38,942 per square foot in the 4th quarter of 2025, compared with ₹38,329 per square foot in the same quarter of the previous year. In Sewree, 170 transactions were recorded in 2025, with a gross sales value of ₹852 crore.
Lodha's Recent Expansion
In the third quarter of fiscal 2026, the company added five new projects with a gross development value of Rs 33,800 crore across the Mumbai Metropolitan Region, NCR and Bengaluru. The company posted its highest-ever quarterly pre-sales of Rs 5,620 crore in the third quarter of FY26, up 25% from a year earlier.
The joint development agreement reflects sustained institutional interest in Mumbai's eastern corridor, with data indicating steady land value resilience in infrastructure-led micro-markets despite elevated acquisition costs, signalling continued long-term confidence in Mumbai's redevelopment-driven housing demand.