Bengaluru, Feb. 22 -- Real estate firm Lodha Developers Ltd has entered into a joint development agreement with Sahana Properties and Resorts Pvt Ltd and Sahana Builders and Developers Pvt Ltd, to develop around 10.26 acres of land in Mumbai's Parel-Sewree area.

The agreement, registered on 11 February, was signed for a consideration of Rs.365 crore, as per documents accessed by real estate data analytics platform CRE Matrix.

Lodha and Sahana will construct rehabilitation buildings for the existing dwellers, and then build towers for sale on the land.

The total area comprises two main plots with multiple housing societies and is a proposed slum redevelopment project under the Slum Rehabilitation Authority (SRA), as per the documents. O...