Macrotech Developers Secures 3.4-Acre Land in Jogeshwari West for INR 279 Crore

Mumbai’s leading real estate firm, Lodha Group, officially registered as Macrotech Developers, is in the process of acquiring a 3.4-acre land parcel in Jogeshwari West from pharmaceutical giant Unichem Laboratories for a staggering INR 279 crore.

Strategic Location: Prabhat Estate, Jogeshwari West

The prime property, located at Prabhat Estate, off Swami Vivekananda Road, was formerly Unichem’s registered office but remained unused for business operations. Unichem has already shifted its headquarters to Kandivali West, clearing the way for the land’s monetization. While the deal is yet to be finalized and officially registered, Unichem’s Board of Directors has given the green light for the transaction.

Lodha Group’s Expansion in Mumbai’s Western Suburbs

This acquisition is a key move in Lodha Group’s ongoing strategy to strengthen its footprint in Mumbai’s western suburbs. The company has already delivered high-profile projects across Borivali, Kandivali, Andheri, Versova, Malad, and Juhu. The Jogeshwari West land is expected to be transformed into a premium residential project, catering to the city’s growing demand for luxury homes.

Lodha’s Rapid Growth and Expanding Project Pipeline

Lodha Group has been on an aggressive expansion spree, adding eight new projects across the Mumbai Metropolitan Region (MMR), Bengaluru, and Pune in the first nine months of FY 2024-25. These projects collectively hold a gross development value of INR 19,500 crore, reinforcing the developer’s market leadership in India’s booming real estate sector.

High-Value Transaction Signals Market Confidence

This latest acquisition showcases rising investor confidence in Mumbai’s real estate market. The Jogeshwari West locality is rapidly emerging as a residential hotspot, offering excellent connectivity and proximity to key business districts. With Lodha Group’s expertise in luxury real estate, this upcoming project is expected to set new benchmarks in urban living.

Key Highlights:

• Lodha Group (Macrotech Developers) to acquire a 3.4-acre land parcel in Jogeshwari West for INR 279 crore.
• Property previously served as Unichem Laboratories’ registered office but had no active business operations.
• Unichem’s Board of Directors has approved the land monetization.
• Lodha Group expanding its presence in Mumbai’s western suburbs with a potential premium residential project.
• Part of Lodha’s broader expansion strategy, adding INR 19,500 crore worth of new projects in FY 2024-25.
• Jogeshwari West gaining traction as a prime residential location with strong market demand.

Source: Link…