New Delhi, February 22 Lodha Developers, a real estate firm, has partnered with Sahana Group companies to develop projects on multiple land parcels spanning over 10 acres in Mumbai, according to CRE Matrix.
Real estate data analytics firm CRE Matrix has obtained the registration document of the Joint Development Agreement (JDA) between Lodha Developers and Sahana entities – Sahana Properties and Resorts Pvt Ltd and Sahana Builders and Developers Pvt Ltd.
The JDA was registered on February 11. The total land, located in Parel-Sewri in Mumbai, covers an area of 41,526 square meters.
The JDA was executed for a consideration of Rs 364.80 crore. According to CRE Matrix, the stamp duty paid is Rs 37.20 crore.
Lodha Developers Ltd acquires land parcels through direct purchases as well as forming partnerships with landowners to create a strong pipeline of future projects.
During the first nine months of this fiscal year, it acquired 11 land parcels in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru to develop projects, with an estimated sales value of Rs 58,800 crore.
Lodha Developers has completed and delivered more than 100 million square feet of area so far.
