Lodha Sells 24-Acre Mumbai Parcel to STT GDC for Rs 500 Crore

Real estate major Lodha Developers has completed the sale of approximately 24.34 acres of land in the Palava region of Mumbai to ST Telemedia Global Data Centres (STT GDC) for a consideration of ₹500 crore. This transaction strengthens Lodha’s strategic pivot toward integrated infrastructure and data-driven assets.

The deal encompasses transfers from both Lodha and its subsidiary Palava Induslogic 4 Pvt Ltd, with 1.74 acres sold directly by Lodha and 22.6 acres by the subsidiary. The sale has been officially registered.

Earlier this month, Lodha had signed a Memorandum of Understanding (MoU) with the Maharashtra government to develop a 370-acre green integrated data centre park in Palava. The master plan aims for a 2 gigawatt capacity and a total investment of about ₹30,000 crore, potentially generating around 6,000 direct and indirect jobs.

The Palava land parcel sale aligns with Lodha’s broader urban strategy. The developer is simultaneously advancing residential, commercial, warehousing, and data centre projects across its Palava land bank. This move is seen as an effort to monetize land holdings and capture growth in India’s data infrastructure sector.

The acquisition by STT GDC underscores growing institutional interest in data centre assets across India. With digital adoption accelerating, demand for energy-efficient, scalable data facilities is rising rapidly. This transaction marks a key step in integrating real estate with tech infrastructure.

As planning for the data centre park continues, stakeholders will watch how Lodha and STT GDC execute on infrastructure, connectivity, and sustainability fronts. The success of this project could serve as a model for future collaborations between real estate and digital infrastructure developers.

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