Lodha Promina - Commercial

• The land is overwhelmingly MCGM-owned (~78,919 sqm of 89,031) and developed as an SRA Reg 33(10) scheme under an LOI + 25%-of-ASR premium; a ~10,111 sqm freehold pocket is Skylark's.
• Lodha owns none of it, developing under a 30/01/2026 JDA + irrevocable POA.
• The Wadia Ghandy opinion certifies the DEVELOPER'S ENTITLEMENT (not ownership) as clear and marketable, expressly qualified on the approvals, the mortgage/charge, the pending litigations and the Three Sixty West JV.
• Litigation is unusually heavy (53 matters incl. a Supreme Court Wadhawan/DHFL matter, ED/PMLA attachments of Skylark monies, a Neev arbitration, and dozens of slum-dweller writs).
• The developer-not-owning-the-land structure is the SRA norm; the volume of litigation and the un-conveyed municipal land are the real drags.

• Phase-2 (Rexray field): Lodha's link IS the 30/01/2026 JDA.
• History: Sahana partnered Oberoi (the Oasis Realty JV) and built Three Sixty West (3 wings); the partnership soured, Oberoi BOUGHT OUT all of Sahana's units and did NOT continue the rest of the development; Lodha then stepped in to develop the balance free-sale under the 2026 JDA.
• So the title report's Oasis-Realty/Three-Sixty-West JV qualifier is the COMPLETED, exited Phase-1; Lodha's development is the new balance-floor area (FSI) vehicle.

• The Commencement Certificate covers plinth only and the architect's Form 1 reads 0% on every activity as at 30/06/2026 - an origination-stage file.
• On this SRA scheme the sale component's occupation is gated on the rehab side: the Transport Garage BUA must be developed and handed over before OC to the equivalent sale BUA, amenity/road plots before the last 10-25% of sale BUA, and the rehab component (~6,268 tenements) must complete within 96 months - so delivery certainty turns on a very large rehab programme (Phase-1 has delivered ~2,986 tenements in 21 rehab buildings).
• The branded developer (Lodha/Macrotech) is well-capitalised with a real delivery record, but is NOT the entitlement holder - the LOI/Commencement Certificate name the Sahana entities, and Lodha builds under a 40:60 JDA signed weeks before registration.
• This is early-stage/rehab-execution risk rather than a sale-above-sanction (0 units sold, no marketed floor overstatement).

• PHASE-2 field build state: the land is cleared and foundation/excavation ('digging') work has started - foundation stage, consistent with the plinth-only Commencement Certificate and 0% superstructure.
• NOTE also the marketing-vs-sanction height gap (see finding PRO-F13): marketing shows ~60 storeys / ~800 ft while the current sanction is 28 office floors / 39 levels - a delivery/approval-pending contingency until an amended sanction (and the agreement) land.

• The public record carries the usual origination-stage mismatches: the portal litigation count (42) is lower than the title report's schedule (53), the parking-details table is not expanded, and the Commencement Certificate-extent shows plinth while the sanction is 39 levels.
• These read as portal-entry lags on a brand-new (17/12/2025) commercial registration rather than concealment; the underlying documents are consistent and legible.
• Trust the documents over the portal.
• Rexray field: RERA legibility/compliance is 'good' overall for this brand-new filing.

• Marketed as an ~800ft / 60+-storey 'tallest commercial tower', SCDA-designed, LEED Platinum, sea-and-skyline views, just off Worli Sea Face.
• The record: 28 sanctioned office floors on a plinth-only Commencement Certificate, an NM Joshi Road inland Development Plan-road plot, a western sea view broken by Ahuja/Oceana/Aquaria/Beaumonde/Adarsh Nagar, and a sanction architect (Sanjay Neve) distinct from the design architect (SCDA).
• The headline gap is the marketed 60 storeys vs the sanctioned 28.

• For an office tower View is a secondary attribute.
• The deep ten-level parking podium lifts the first office about 35 metres above the road, removing the usual low-floor discount, and the north-east, south-east and south arcs read open.

• The trade-offs are two.
• The estate's own ~285-metre residential sibling stands immediately east and walls the east arc at every floor.
• And the marketed sea view to the west is broken - Ahuja Towers, the Beaumonde towers (~35 storeys), Kalpataru Oceana, the upcoming Lotus Aquaria and the already-plotted Adarsh Nagar redevelopment all break the line, so the sea opens only above about the 35th floor.

• The layout-efficiency engine returns about 75% as a draft for a single-office-per-floor wedge plate off a central three-lift core - but LES is a residential carpet/BUA metric and for an office core-and-shell it is only a rough proxy.
• Confirm against the leasable-vs-built area once a carpet figure exists.

• RCA turns on the enclosed exclusive-use grey-zone in the sale agreement, and there is no registered the agreement yet - only a proforma.
• For a whole-floor office the lift lobby / common-area treatment differs from residential; defer the bucket-2/bucket-3 classification to the registered agreement.

• Rexray field: the higher floors - once the tower clears the ~35-storey Beaumonde line and the sea opens up - are expected to fetch about Rs 80,000-1,00,000/sqft; lower floors below that band trade lower.
• No unit has transacted and there is no registered the agreement, so this is a field-set band, not a registered anchor.
• CAVEAT: this is a view-premium band; a commercial office product typically prices below the residential comp, so confirm whether the band is the office ask or the residential-sibling ask, and name the frontage-matched comparable in Phase 3 (C21).
• Cash component still open.

• The commercial tower shares one podium with a ~285m residential sibling and a mechanized parking tower, on a 89,031 sqm Larger Land that also carries ~6,268 rehab tenements in ~21+ rehab buildings and the Three Sixty West supertall free-sale cluster, at floor area (FSI) up to 4.00.
• The rehab sits in separate structures (limited in-building mixing) but the estate is extremely dense and the LOI records it as open-space/amenity-space deficient.
• Recreational open space on this registration is only 85.61 sqm.

• The setting is the Worli/Lower Parel mill-land and slum-redevelopment belt: the scheme's own ~6,268-tenement rehab cluster, the Three Sixty West towers on the same land, and the dense Worli pipeline to the west and north (Lodha Park, Sumitomo, and others in the discovered store).
• The Development Plan-snapshot static layer (Development Plan roads, reservations, the SWM garage/staff-quarters obligations) seals as [GOV]; the the 2032 area outlook certainty/timing is a field item.

• About 10 minutes to the current Sea Link access (measured from Godrej Bay View as the local proxy).
• The plot fronts a Development Plan road running beneath the under-construction Worli-Sewri Elevated Connector; both that Development Plan road and the connector are expected to be complete by the time the project is ready, so access should improve over the build period.

• KVF (kitchen air-path) is a residential attribute.
• This is a commercial office tower with no residential kitchens, so the KVF rule does not apply; carried as not-applicable rather than pass/fail.
• (If pantry/F&B units appear in the registered plans, revisit.)

• The lift-wait engine returns Grade B-to-C for three passenger lifts serving 28 office floors (interval ~39-50s across the luxury speed/capacity band); a fireman's evacuation lift is provided in addition.
• The engine models one 'unit' per floor, but an office floor carries many more occupants than a home, so real lift demand is higher - the honest read seals on the conservative Grade C and flags office population / destination-control as a Phase-2 refinement.

Water provision is scheme-standard (SRA, on-site services), with the LOI adding subsoil/geologist and MOEF conditions; the unquantified item is the water-supply No-Objection Certificate's sanctioned count against the sale demand - a downstream approval, not a missing one.

• Parking for Sale Building No.2 is pooled: a ten-level self-park podium (Ground + Part Upper Ground + Podium 1-9 = 418 bays, ramped with some stack parking) PLUS a dedicated mechanized parking tower (car-stacker, 128 bays).
• The commercial tower's requirement is ~112 bays.
• The dominant mechanism is drive-to-bay podium self-park (a mid-high anchor), but the LOI mandates a mechanized parking system/parking tower with vendor peer-review, indemnity and a buyer-agreement waiver re mechanical-parking failure (C64 - do not over-read a clause; mechanism sealed from the layout image).
• Which office bays sit in the ramped podium vs the mechanized tower, and bay-level allotment, are field items.
• The retrieval engine returns Grade A even for the mechanized case because there are only 28 office tenancies (no residential peak) - parking is not a queue problem here.

PHASE-2 field: parking is a low-materiality attribute for the commercial tower; on a plot this large the scheme runs a self-park podium (drive-to-bay), so the anchor sits on the self-park case rather than the mechanized tower.

Rexray's database will, over time, be enriched with the attention to detail and quality ethos of each builder. For now, below is the checklist you should verify with the builder before you decide.

• This is a commercial office product sharing a gated SRA mega-estate with a luxury residential sibling, ~6,268 rehoused slum-society households in separate rehab towers, and the Three Sixty West cluster.
• For an office tower the community-composition lens is weaker than for homes, but the mixed-strata, high-density estate context still applies.