In a landmark deal that reflects shifting dynamics in Mumbai’s redevelopment landscape, Lodha Developers has acquired over 945 apartments as Permanent Transit Camp (PTC) units in the eastern suburb of Mankhurd. The transaction, valued at ₹567 crore, marks one of the largest SRA-linked asset transfers in the city to date. According to documents accessed via real estate intelligence platform CRE Matrix, the registration took place on June 3, with Lodha paying a stamp duty of ₹34.02 crore.
A Permanent Transit Camp(PTC) refers to ready-built housing that temporarily or permanently houses project-affected persons, typically slum dwellers or tenants, under SRA (Slum Rehabilitation Authority) schemes. These units help developers fulfill their rehabilitation commitments for ongoing redevelopment projects.
Lodha’s bulk acquisition spans a built-up area of 3.39 lakh sq ft and is part of a compliance-driven strategy. One of its key redevelopment projects in the Vikhroli suburb requires the company to hand over more than 50,000 sq meters of constructed area to the SRA for PTC purposes.
However, with limited land availability in Vikhroli and the long timelines associated with in situ construction, Lodha has opted for off-site fulfilment through this strategic Mankhurd purchase. The seller, in turn, monetizes part of its free sale inventory, reportedly holding over 83,000 square meters of it in the locality. This makes the deal mutually beneficial.
This move highlights the increasing relevance of Mumbai’s eastern suburbs, like Mankhurd, in large-scale urban renewal projects. It also points to a growing trend among developers to explore off-site, asset-backed solutions to meet regulatory obligations swiftly, especially as redevelopment projects face tighter timelines and heightened compliance scrutiny.
As Mumbai’s real estate market continues to evolve, transactions like these are likely to become more common, reshaping how rehabilitation components are addressed in the city’s ever-expanding redevelopment story.
Recent Redevelopment Transactions in Mumbai
Mumbai’s redevelopment landscape is witnessing a surge in high-value transactions as developers race to meet growing housing demand. From bulk SRA unit acquisitions to large-scale society redevelopments, recent deals highlight the city’s shift toward faster, compliance-driven real estate strategies.
In a recent transaction, Kalpataru signed redevelopment contracts for two housing society projects in Chembur and Goregaon, Mumbai, spanning over 1.5 million sq ft with a potential revenue of ₹2,000 crore.
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