Mumbai’s redevelopment story continues to gather pace. Lodha Developers Limited has signed a ₹364.81 Crore joint development agreement (JDA) for over 10 acres of land in the Parel–Sewri belt of central Mumbai.
Sahana Properties and Resorts Pvt Ltd and Shahana Builders and Developers Pvt Ltd, both part of the Sahana Group, executed the agreement with Lodha Developers. The parties registered the transaction on February 11, 2026. Lodha Developers paid ₹37.2 crore in stamp duty, according to property registration documents accessed by CRE Matrix.
Project Details and Revenue Share
The total land parcel measures 41,526 square metres. The land parcels covered under the joint development are located on Thackeray Jivraj Cross Road in the Parel–Sewri belt. The project will be developed under the Lodha brand.
Under the terms of the JDA, revenue will be shared between the partners. Lodha Developers will hold a 67 per cent share, while the Sahana Group will receive 37 per cent. The construction timeline for the project is five years.
The deal structure reflects a capital-efficient expansion strategy. Instead of outright land acquisition, joint development allows developers to unlock value while sharing risk and returns with landowners.
Parel–Sewri: A Key Redevelopment Corridor
The Parel–Sewri micro-market has emerged as a major redevelopment hub in central Mumbai. Once dominated by industrial land and aging structures, the belt is now transforming into a mixed-use residential and commercial destination.
Improved connectivity, proximity to South Mumbai, and ongoing infrastructure upgrades have significantly increased the area’s appeal. As a result, demand has strengthened in this micro-market. Moreover, large land parcels are rare in Mumbai, making a 10-acre aggregation in this location a strong signal of long-term development potential.
At the same time, three key factors continue to drive redevelopment in central Mumbai: limited greenfield supply, strong end-user demand, and infrastructure-led value appreciation. Consequently, as landowners and developers replace older buildings and defunct industrial plots, they are actively launching premium housing projects and integrated lifestyle developments to meet evolving buyer expectations.
The Bigger Redevelopment Story
Mumbai’s growth is no longer about horizontal expansion. It is about vertical transformation. Central neighbourhoods like Parel and Sewri are being reimagined through structured redevelopment and planned projects.
Large JDAs such as this underline how developers are securing strategic land parcels without heavy upfront acquisition costs. At the same time, landowners participate in future upside.
As infrastructure upgrades advance and redevelopment accelerates, developers will continue to add sustained residential supply across central Mumbai. The key question will be absorption. If demand momentum holds, projects in well-connected micro-markets are likely to remain resilient.
This 10-acre deal adds another chapter to Mumbai’s evolving redevelopment landscape.
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