Lodha secures Rs 3.59 bn contract for Worli construction

16 Oct 2023 CW Team

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.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

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Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

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Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..