SOUTH AND CENTRAL MUMBAI PROJECTS
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With a rich legacy of trust spanning four decades, at Lodha, we are driven by our passion to exceed global standards and deliver iconic addresses. Guided with our vision of ‘Building a Better Life’, we stop at nothing to do whatever it takes to create the world’s finest developments. Whether it’s taking apart a 300-year-old heritage building brick by brick and putting it up again after reimagining its interiors for modern-day living, scouring the far corners of the earth to find the brightest minds in architecture and design, or creating an oasis of luxury with over 1000 trees in the heart of the city.
Our vision is to bring international standards of living to India and shape the future of real estate – elevating the overall living experience for our residents. Leveraging decades of experience in the premium real estate sector, Lodha offers thoughtfully planned, self-contained ecosystems, we look at real estate not just as physical spaces but as experiences that enrich lives. With every new project, we create nurturing and enabling environments that enhance our residents’ well-being and comfort, while building a community of like-minded individuals.
We have the experience and skills to deliver both quality and scale, at a pace that is unmatched in the country. Today, Lodha is India’s largest real estate developer. The company has recorded sales of over `55,000+ crore in the last 7 years. We have delivered an area of ~9.4 crore sq.ft.** and have 33 ongoing projects and 12 planned projects.^^ Our team of ~4,400 associates work relentlessly to create developments of exceptional quality, with a commitment to deliver the world’s finest homes, offices, and retail spaces.
As India’s largest real estate developer, also have a responsibility, not only to the individuals who live and work in our developments, but also to India—to support the nation’s development and help the country thrive. In terms of our Environmental Impact, we are committed to leading India's journey toward achieving Net Zero emissions and to building assets that can withstand the challenges of a changing environment. These goals are pursued through focused efforts in the areas of Decarbonisation and Resilience and we aim to be Net Zero by 2050. In our pursuit of Social Impact, our priorities revolve around providing high-quality Education, Employment opportunities and fostering Women's Empowerment.
**Area developed till March 2023. ^^As on 31st March 2023
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The Indian Real Estate sector has been a hot favourite of NRI investors. This is proven by the fact that India saw $13.1 bn investment from NRIs last year and is expected to grow by 12% this year. This growth can be attributed to the escalating demands for residential properties due to rapid urbanization and inflating disposable incomes of individuals. The Indian Economy is also showing resilience in the post- pandemic period showing ~4% YoY growth in home prices during Q1 2022.
Additionally, the Indian currency has consistently depreciated against the US dollar in 2022 so far. This, coupled with the capital value appreciation of real estate, rental yield and digitisation of the process adds up to the purchase of property by NRIs in India being a win-win situation for all NRI investors.
For NRIs wanting to invest in real estate in India, the process is not as tedious as before. Apart from Person of Indian Origin (PIO), even those holding Overseas Citizenship of India (OCI) can buy a residential or commercial property in India. The leading financial institutions in the country provide home loan facility to the NRIs to fund their real estate purchase. The documents required for home loan include age proof, residence proof, educational qualification, income proof, employment proof, passport/OCI, bank statements, among other things. A NRI also needs to have a Power of Attorney (POA) determined, essentially authorise a representative in lieu of the NRI for the home loan processing.
They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Mumbai within a period of 90 days from the date of purchase of immovable property or final payment of purchase consideration along with a certified copy of the document evidencing the transaction and bank certificate regarding the consideration paid.
The following is the list (non-exhaustive) of documents required for NRIs to buy property in India:
Getting a power of attorney for NRI to buy property in India
Another vital document required while processing an NRI home loan is the power of attorney (POA). The POA is important because, since the borrower is not based in India; the Home Finance Company would need a 'representative' 'in lieu of' the NRI to deal with and if needed. Although not obligatory, the POA is usually drawn on the NRI's parents/wife/children/ close relatives or friends. Another vital document required while processing an NRI home loan is the power of attorney (POA)
The documentation required to be submitted by the NRIs are different from the Resident Indians as they are required to submit additional documents, like copy of the passport and a copy of the works contract, etc. and of course, NRIs have to follow certain eligibility criteria in order to get Home Loans in India.
The documents needed for obtaining NRI home loans are Bank specific. General list of documents are as mentioned below:
List of Classified documents for Salaried and Self Employed NRI Applicants. Banks may have specific requirements apart from the below- listed documents.:
Self-Employed NRI Applicants:
An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident Indian - NRI. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with non- resident Indian citizens (NRIs).
A person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who:
The Overseas Citizenship of India (OCI) is an immigration status permitting a foreign citizen of Indian origin to live and work & in the Republic of India indefinitely.
Yes. NRIs can buy and sell residential and commercial properties in India.
There is no restriction on the number of residential or commercial properties an NRI can own in India. However, for NRIs buying property in India, the law restricts NRIs from purchasing any kind of agricultural land/ plantation property/ farm house in India.
Yes, under the general permission granted by the Reserve Bank, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchaser's NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.
Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bona fide residential purpose. They are, therefore, not required to obtain permission of Reserve Bank.
An NRI/PIO cannot usually buy agricultural land/plantation property/farm houses in India. Proposals to buy such a land have to be specifically approved by RBI, in consultation with Government of India. The only way they can acquire an agricultural land is by inheritance.
Yes, the Reserve Bank has granted general permission to NRIs to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not.
The Reserve Bank has granted some general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc, and authorized dealers to grant housing loans to NRI nationals for acquisition of a NRI house/flat for self-occupation subject to certain conditions. Criteria regarding the purpose of the loan, margin money, and the quantum of loan will be at par with those applicable to resident Indians. Repayment of the loan should be made within a period not exceeding 15 years, out of inward remittance through banking channels or out of funds held in the investors' NRE/FCNR/NRO accounts.
The mere acquisition of property does not attract income tax. However, any income accruing from the ownership of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and it is not the only residential property owned by that person in India) and/or capital gains (short term or long term) arising on the sale of this house or part thereof is taxable in the hands of the owner.
Yes. Long-term and short-term capital gains are taxable in the hands of non-residents.
In case of sale of an immovable property, the Double Tax Avoidance Agreement (DTAA) with most countries state that capital gains will be taxed in the country where the immovable property is situated. Hence, if an NRI owns immovable property in India, then he/she will be subject to pay tax in India on the capital gains which arise on the sale of the property. Similarly, letting of immovable property in India would be taxed in India under most tax treaties.
LODHA
INDIA’s No.1 Real Estate Developer*
Corporate Office: Lodha Excelus, N. M. Joshi Marg, Mahalaxmi, Mumbai – 400 011 | All Lodha projects are registered via the MahaRERA Registration and is available on the website https://maharera.mahaonline.gov.in under registered projects.
*By residential sales FY-14-23.
**85 million or ~8.5 crore square feet completed till March 2022.
^Based on livability quotient ranking by JLL in its ‘Livability Quotient – A Paradigm Shift in India’s Emerging Cities’ Report
^^As of 31st March, 2022
Lodha Venezia:
These projects are registered via MahaRERA Registration No.: P51900000828, P51900005378 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Primo:
These projects are registered via MahaRERA Registration No.: P51900014910 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Maison:
These projects are registered via MahaRERA Registration No.: P51900016526 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Ciel:
These projects are registered via MahaRERA Registration No.: P51900008345 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Seamont:
These projects are registered via MahaRERA Registration No.: P51900010326 available on the website: https://maharera.mahaonline.gov.in under registered projects
Amara:
These projects are registered via MahaRERA Registration No.: P51700014760 | P51700018393 | P51700020164; available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Serenity:
MahaRERA Registration No.: P51700020253, available on the website: https://maharera.mahaonline.gov.in under registered projects
New Cuffe Parade:
These projects are registered via MahaRERA registration number: P51900000629 and is available on the website:https://maharera.mahaonline.gov.in
Lodha Park:
These projects are registered via MahaRERA Registration No.: P51900001339; available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Woods:
These projects are registered via MahaRERA Registration No.: P51800031346 | P51800031351 | P51800031532; available on the website: https://maharera.mahaonline.gov.in under registered projects
Crown Taloja:
These projects are registered via MahaRERA Registration No.: P51700020381 | P51700022825; available on the website: https://maharera.mahaonline.gov.in under registered projects
Upper Thane:
These projects are registered via MahaRERA Registration No.: P51700008449 | P51700007192 | P51700006147 | P51700014814 | P51700014770 | P51700016245 | P51700016243 | P51700016437 | P51700016666 | P51700018035 | P51700018107 | P51700019121 | P51700020104 | P51700020217 available on the website: https://maharera.mahaonline.gov.in under registered projects
The World Towers:
These projects are registered via MahaRERA Registration No.: P51900008345, P51900008962; available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Bel Air:
These projects are registered via MahaRERA Registration No.: P51800014860; P51800014869; P51800014891 available on the website: https://maharera.mahaonline.gov.in under registered projects
Codename Limited Edition:
These projects are registered via MahaRERA Registration No.: P51800031360; available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Vista:
These projects are registered via MahaRERA Registration No.: P51900022245; available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Eternis:
These projects are registered via MahaRERA Registration No.: P51800000293 | P51800000345 | P51800000294 | P51800020147 | P51800026509 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Bella Vita:
These projects are registered via MahaRERA Registration No.: P52100024215; available on the website: https://maharera.mahaonline.gov.in under registered projects
Crown Thane:
These projects are registered via MahaRERA Registration No.: P51700024777; available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Evoq:
These projects are registered via MahaRERA Registration No.: P51900000567; available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Belmondo:
T&C: offer applicable on select units only
These projects are registered via MahaRERA Registration No.: P52100000221 | P52100019434 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Sterling:
These projects are registered via MahaRERA Registration No.: P51700015040; available on the website: https://maharera.mahaonline.gov.in under registered projects
Codename One & Only:
These projects are registered via MahaRERA Registration No.: P51700026503; available on the website: https://maharera.mahaonline.gov.in under registered projects
Trump Tower:
These projects are registered via MahaRERA Registration No.: P51900001339; available on the website: https://maharera.mahaonline.gov.in under registered projects
Crown Ghodbunder Road:
These projects are registered via MahaRERA Registration No.: P51700029329 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Splendora:
These projects are registered via MahaRERA Registration No.: P51700000258, P51700000659, P51700000199, P51700016375 available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Panache:
Lodha Panache, Hinjewadi has been registered via MahaRERA registration number: P52100050124 | P52100051257 | P52100051280 and is available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Giardino:
Lodha Giardino, Kharadi has been registered via MahaRERA registration number: P52100047587 | P52100048326 | P52100051552 | P52100050123 is available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Estilo:
Lodha Estilo has been registered via MahaRERA registration number: P52100052703 is available on the website: https://maharera.mahaonline.gov.in under registered projects
Lodha Magnus:
Lodha Magnus has been registered via MahaRERA registration number: P52100054113 is available on the website: https://maharera.mahaonline.gov.in under registered projects