Vikhroli SRA Accelerated: Lodha Buys 945 Transit Units for ₹567 Crore

Lodha Developers has acquired 945 Permanent Transit Camp (PTC) apartments, spanning approximately 3.29 lakh sq. ft., from Arihant Construction Company for a consideration of ₹567 crore, according to property registration documents accessed via CRE Matrix. The acquisition is part of Lodha’s compliance strategy for its ongoing Slum Rehabilitation Authority (SRA) project in Vikhroli, Mumbai.

Under SRA guidelines, developers are required to provide rehabilitative housing to slum dwellers in exchange for additional development rights, including the right to construct and sell in the open market. The newly acquired PTC units in Mankhurd will help Lodha meet its SRA commitments for the Vikhroli redevelopment project.

Arihant Construction is currently developing a slum rehabilitation scheme in Mankhurd, which includes over 83,000 sq. mtrs. earmarked for free-sale components. The transaction also facilitates the transfer of free-sale Floor Space Index (FSI) as permitted under Development Control and Promotion Regulations (DCPR) 2034.

By purchasing fully built PTC apartments, Lodha streamlines its SRA compliance process, accelerates project timelines in Vikhroli, and avoids delays associated with in-house construction of transit housing. These transit units serve as temporary accommodation for displaced residents during redevelopment, supporting the state’s broader goals of urban renewal and equitable resettlement.

News by Rahul Yelligetti.