Latest news with #SRA-linked
Time of India
18-06-2025
- Business
- Time of India
Lodha Developers acquires 945 apartments in Mumbai's Mankhurd for Rs 567 cr
Lodha Developers has acquired over 945 apartments as permanent transit camp (PTC) units in Mumbai's eastern suburb of Mankhurd from another real estate developer in a transaction valued at Rs 567 crore. This is the largest SRA-linked asset transfers recorded so far and reinforces the growing trend of offsite PTC fulfilment in Mumbai's real estate market. The transaction involving bulk purchase of apartments includes a total built-up area of 3.39 lakh sq ft and is a compliance-driven move. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The company has paid stamp duty of Rs 34.02 crore for the registration of the bulk transaction that took place on June 3, showed documents accessed through realty data analytics platform CRE Matrix. A Permanent Transit Camp refers to ready-built housing units that developers construct or acquire to temporarily or permanently house project-affected people--usually slum dwellers or tenants--under SRA schemes or redevelopment projects. Live Events One of the company's ongoing projects involving slum rehabilitation in Vikhroli suburb mandates the developer to hand over more than 50,000 sq meter of constructed area to the Slum Rehabilitation Authority for PTC purposes. 'This is a classic example of how larger developers are using asset-backed planning to meet regulatory obligations while optimizing timelines. For the developer, this is usually both a strategic and a tactical purchase,' said a senior real estate consultant. With limited land availability in Vikhroli and long gestation periods associated with in situ construction, Lodha is looking to fulfil this obligation through an offsite transfer of built-up area. ET's email query to Lodha Developers remained unanswered till the time of going to press. These residential units, once completed, will be handed over to the SRA, allowing Lodha to meet its rehabilitation commitment for the Vikhroli project. The seller reportedly holds over 83,000 sq meter free sale component in Mankhurd, making the location suitable for such a transaction under SRA norms. With this deal, the seller has monetized part of its free sale inventory, while Lodha will achieve quicker compliance for its Vikhroli project without additional construction delays. The transaction also indicates the growing relevance of eastern suburbs like Mankhurd in Mumbai's redevelopment story. Transactions like these are expected to rise as Mumbai's redevelopment momentum accelerates, driven by the twin pressures of tighter delivery timelines and increasingly stringent compliance frameworks. With limited availability of vacant land in core city areas and growing regulatory scrutiny, developers are opting for quicker, asset-backed solutions like offsite PTC fulfilment. This trend is likely to continue as large-scale urban renewal projects gain pace across the city's eastern and central suburbs.
Express Tribune
16-04-2025
- Express Tribune
CTD Sindh arrests suspected SRA terrorist in Karachi, recovers illegal weapons
Listen to article The Counter-Terrorism Department (CTD) Sindh conducted an intelligence-based operation in the Sachal area of Karachi, arresting a suspected terrorist associated with the banned separatist group Sindhudesh Revolutionary Army (SRA), officials confirmed on Tuesday. According to the CTD spokesperson, the operation was carried out near the Memon Graveyard in Police Housing Society Scheme 33 within the jurisdiction of Sachal Police Station. The suspect, identified as Sajjad Shar alias Babloo, son of Ghulam Abbas, was apprehended and illegal firearms were recovered from his possession. Preliminary investigations revealed that Sajjad Shar was a close aide of SRA commanders Asghar Ali Shah and Noor Ahmed Chandio. He was previously arrested in cases related to murder, attempted murder, and possession of explosive materials. Authorities said he acted as a liaison, passing instructions from SRA leadership to operatives including Ghulam Shabbir Mallah and Bashir Shar. The CTD stated that the suspect was involved in recruiting young individuals for SRA activities and encouraging them to participate in separatist meetings. He is also accused of conducted reconnaissance of sensitive locations in Karachi and interior Sindh, sharing the information with his network. Officials said that the suspect was planning an IED attack near a railway track in Bohar, Hyderabad District, under orders from SRA commanders. He was reportedly awaiting the delivery of the explosive device at the time of his arrest. The CTD has registered a case against the accused and launched a comprehensive investigation to gather information on other SRA-linked operatives. Further arrests are expected based on intelligence extracted from the suspect. The arrest marks a significant breakthrough in the CTD's ongoing efforts to dismantle networks of banned separatist outfits operating within the province.
