India, June 18 -- Mumbai-based listed real estate developer Lodha Developers Limited has purchased 945 permanent transit camp (PTC) units, spanning over 3.39 lakh sq ft, from Arihant Construction Company in Mumbai's Mankhurd area for Rs.567 crore, according to property registration documents accessed by CRE Matrix.

The deal is linked to Lodha's ongoing project in Vikhroli, where, under the Slum Rehabilitation Authority (SRA) scheme, the developer is required to hand over a portion of built-up space to the SRA in exchange for additional construction rights for sale in the open market.

Arihant Construction, which is undertaking a slum rehabilitation project in Mankhurd with over 83,000 sq m of free-sale component, is supplying these PTC u...