Leading real estate major Lodha Developers has secured development rights for a prestigious 4.3-acre land parcel in Malabar Hill, one of Mumbai’s most premium residential locations. The project is estimated to have a potential gross development value (GDV) of approximately ₹2,800 crore.
The land parcel currently houses six bungalows and a chawl structure. A residential tower located on the plot will not be part of the redevelopment plan. The property belongs to the Sorabji Kanga Charity Trust, which has entered into an agreement granting redevelopment rights to Lodha Developers.
Deal Structure and Financial Commitments
As part of the transaction, Lodha Developers has made an upfront payment along with monetary and non-monetary commitments. The agreement includes a ₹125 crore security deposit and a ₹40 crore bank guarantee.
In exchange, the trust will receive a separate building with over 54,000 sq ft of RERA carpet area along with a 42.5% revenue share, which is estimated to exceed ₹1,400 crore. The transaction’s market valuation is reported to be around ₹621.7 crore, with stamp duty payments of approximately ₹37.4 crore.
Strengthening Presence in South Mumbai’s Luxury Segment
This acquisition reinforces Lodha Developers’ strategic focus on premium and ultra-luxury residential developments in land-constrained, high-value micro-markets. Large contiguous land parcels in Malabar Hill are extremely rare, making this deal a significant addition to the company’s luxury project pipeline.
Under applicable trust regulations, the charity trust is required to invest the gross proceeds from the deal into prescribed financial instruments, with only the interest income permitted to be used for its objectives.
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