Macrotech Developers Acquires Unichem Jogeshwari Land for 279 Crore

Macrotech Developers Acquires Unichem Jogeshwari Land for 279 Crore

Macrotech Developers Acquires Unichem Jogeshwari Land for 279 Crore

Real estate giant Macrotech Developers (Lodha) has entered into an agreement to acquire a 3.4-acre land parcel in Jogeshwari West, Mumbai, from Unichem Laboratories for ?279 crore. Located at Prabhat Estate off Swami Vivekananda Road, the site includes an 82,000 sq. ft. office building, which previously served as Unichem’s registered office before being relocated to Kandivali West. While the deal is yet to be inked and registered, Unichem’s board of directors has approved the monetization of the property, whose book value in the company’s records is ?2.18 crore.

The Lodha Group, known for its landmark projects across Borivali, Kandivali, Andheri, Versova, Malad, Juhu and South Mumbai region, is expected to develop a premium residential project on this newly acquired land. This acquisition aligns with Macrotech Developers’ aggressive expansion strategy, adding to its eight new projects across MMR, Bengaluru, and Pune, valued at ?19,500 crore in FY 2024-25. The developer has already achieved 90% of its full-year guidance and is set to witness significant pre-sales growth in the coming financial year.

With India's booming real estate market, land acquisitions in metro cities like Mumbai, Delhi-NCR, and Bengaluru have surged, driven by strong housing demand and infrastructure growth. Institutional investors and real estate firms continue to invest in luxury housing, mixed-use developments, and warehousing projects, signaling long-term confidence in the country’s real estate sector.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/