Lodha secures Rs 3.59 bn contract for Worli construction
Real Estate

Lodha secures Rs 3.59 bn contract for Worli construction

Real estate developer Macrotech, operating under the Lodha brand, has entered into a development agreement for a project in the free sale component of a slum rehabilitation initiative in Mumbai's Worli area. According to documents accessed by CRE Matrix, a real estate data analytics firm, the total market value of the deal is Rs 3.59 billion. The property is part of a slum rehabilitation scheme by the state government. As per information provided by CRE Matrix, the developers intend to use the rehab component of the land to relocate approximately 172 slum dwellers. The land spans over 85,153 square feet (about 7,900 sq m). Out of this, the rehab component covers 26,156 sq m, while the free sale built-up area is 22,438 sq m. The floor space index (FSI) approved for the project stands at 5.172, as per CRE Matrix documents. FSI represents the maximum allowable construction area on a given land parcel. The stamp duty paid for the project amounts to approximately Rs 170 million. The agreement was formalised among four parties: promoter Manju Porwal, Sattadhar Constructions, Sattadhar Constructions, and Macrotech Developers. The transaction was officially registered on October 11, 2023.

Real estate developer Macrotech, operating under the Lodha brand, has entered into a development agreement for a project in the free sale component of a slum rehabilitation initiative in Mumbai's Worli area. According to documents accessed by CRE Matrix, a real estate data analytics firm, the total market value of the deal is Rs 3.59 billion. The property is part of a slum rehabilitation scheme by the state government. As per information provided by CRE Matrix, the developers intend to use the rehab component of the land to relocate approximately 172 slum dwellers. The land spans over 85,153 square feet (about 7,900 sq m). Out of this, the rehab component covers 26,156 sq m, while the free sale built-up area is 22,438 sq m. The floor space index (FSI) approved for the project stands at 5.172, as per CRE Matrix documents. FSI represents the maximum allowable construction area on a given land parcel. The stamp duty paid for the project amounts to approximately Rs 170 million. The agreement was formalised among four parties: promoter Manju Porwal, Sattadhar Constructions, Sattadhar Constructions, and Macrotech Developers. The transaction was officially registered on October 11, 2023.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code