Mumbai: Macrotech Developers, operating as Lodha, has acquired development rights for a 4.3-acre land parcel within Mumbai’s most prestigious residential enclave Malabar Hill in a deal executed on January 7, 2026.
The agreement was signed with the Sorabji Kanga Charity Trust and covers a total land area of 17,403.20 square metres comprising a chawl, the Palacimo Co-operative Housing Society, and six bungalows with Lodha set to redevelop all structures except the housing society.
The market value of the development rights is pegged at approximately ₹621.71 crore, with Lodha paying ₹37.42 crore in stamp duty. The consideration structure includes 5,017 square metres of RERA carpet area, 150 car parking spaces, and a 42.5% trust share in the development. The eventual project is expected to carry a gross development value of approximately ₹2,800 crore, making it one of Mumbai’s most significant luxury land transactions in recent years.
Key Highlights
- Total land: 17,403.20 sq metres (4.3 acres) in Malabar Hill; includes six bungalows, a chawl, and excludes Palacimo CHS
- Deal structured with upfront payment plus a mix of financial and physical asset considerations for the Sorabji Kanga Charity Trust
- Stamp duty paid: ₹37.42 crore on a market value of ₹621.71 crore
- In 2025, Malabar Hill recorded 41 new sale transactions with a gross sales value of ₹1,038 crore
- Average property rate in Malabar Hill stood at ₹1,37,500 per sq ft in Q4 2025, up from ₹98,566 per sq ft in Q4 2024 — a 39% year-on-year increase
Malabar Hill is not simply a premium address, it is the most supply-constrained residential locality in India. Bounded by the Arabian Sea, the Hanging Gardens, Raj Bhavan, and Breach Candy, the peninsula has no room for greenfield development. Every new project here emerges through redevelopment of older structures, making contiguous land parcels of 4.3 acres extraordinarily rare.
Average property rates have surged 39% year-on-year, from ₹98,566 to ₹1,37,500 per sq ft, a pace of appreciation that reflects chronic supply scarcity meeting sustained HNI demand. For context, this rate positions Malabar Hill among the most expensive residential zones in all of Asia, comparable to Hong Kong’s Peak district and Singapore’s Sentosa Cove on a per-square-foot basis.
For ultra-HNI buyers tracking the Malabar Hill market, Lodha’s entry into this parcel confirms that a new supply addition from a tier-1 developer is forthcoming but at price points that will likely exceed even current market rates, given land cost, complexity of trust-based deal structuring, and the premium Lodha commands for its branded product.
For investors monitoring Mumbai’s luxury residential pipeline, this deal is a data point in a broader trend: established developers including Lodha, Oberoi Realty, and DLF are concentrating acquisitions in premium, supply-constrained micro-markets where barriers to entry are high, a strategy that insulates against demand softening better than mid-segment or peripheral developments.
