Lodha Acquires 945 Transit Camp Units for Vikhroli Redevelopment

Lodha Developers has acquired 945 Permanent Transit Camp (PTC) units—spanning approximately 3.39 lakh sq ft—in Mankhurd from Arihant Construction for ₹567 crore, with ₹34 crore paid as stamp duty. The deal, registered on 3 June, enables Lodha to meet its Slum Rehabilitation Authority (SRA) obligations connected to its flagship Vikhroli redevelopment project

Under Mumbai’s Development Control & Promotion Regulations (DCPR) 2034, particularly Regulation 33(11), developers can transfer unutilised Floor Space Index (FSI) from one project to another by providing mandated PTC units elsewhere. Here, Lodha will hand over the acquired Mankhurd units to the SRA in lieu of PTC requirements, allowing it to unlock additional FSI in Vikhroli without building those camps on-site. Industry analysts note this has emerged as India’s largest off‑site PTC transfer and underscores a growing trend of leveraging asset-backed strategies to optimise commercial outcomes within regulation frameworks. For Arihant, monetising 83,000 sq m of its free‐sale inventory in a single transaction delivers substantial cash flow in one stroke.

This structure benefits Mumbai’s redevelopment model, aligning efficiency with sustainability. Off‑site compliance reduces time and carbon impacts from constructing PTCs at primary sites. It also supports equitable housing by delivering legal, permanent homes for displaced communities. However, experts caution that strict adherence to timelines and quality standards is crucial. Past projects have faced delays in PTC handovers, stalling free‑sale developments and triggering compliance issues. For transparency, stakeholder groups advocate for public monitoring of handover schedules, certification, and occupancy safeguards before enabling FSI bonus rights.

With prime land scarcity in Vikhroli, Lodha’s move reflects strategic urban planning—integrating regulatory compliance with market expansion. If executed effectively, it sets a benchmark for large-scale redevelopment: delivering affordable housing off-site while unlocking additional residential capacity, accelerating project timelines, and mitigating ecological impact.

Lodha Acquires 945 Transit Camp Units for Vikhroli Redevelopment