Mumbai, October 01: Sri Lotus Developers & Realty Limited has announced a strong start to the quarter, with its newly launched ultra-luxury residential projects The Arcadian in Juhu and Amalfi in Versova securing a combined ₹130 crore in bookings within the first week of launch.

The Arcadian in Juhu, with an estimated Gross Development Value (GDV) of ₹700 crore, contributed ₹92 crore to the initial bookings.

Amalfi in Versova, inspired by a contemporary Mediterranean lifestyle, achieved ₹38 crore in bookings during its launch week. With a GDV of ₹300 crore, the project offers a distinctive living experience blending design, location, and lifestyle amenities.

Commenting on the response, Anand K. Pandit, Chairman & Managing Director of Sri Lotus Developers & Realty Limited, said:
“We are delighted with the overwhelming response. Achieving ₹130 crore in bookings within a week is a testament to the strength of Mumbai’s ultra-luxury housing market and the trust that homebuyers place in our brand. Our projects are thoughtfully crafted spaces that bring together design, community, and luxury.”

Building on this momentum, the company is preparing to launch its next development, Project Varun in Bandra, in Q3 FY26. Pandit added:

“With the upcoming launch, we are set to carry forward the strong momentum of FY25 into FY26, which we expect to be a defining year marked by significant growth in both pre-sales and revenues.”

Incorporated in 2015 (formerly AKP Holdings Limited), Sri Lotus Developers & Realty Ltd. is a Mumbai-based real estate developer specializing in luxury and ultra-luxury residential as well as premium commercial projects, with a strong focus on redevelopment in Mumbai’s western suburbs.

The company has completed four projects aggregating over 4.2 lakh sq. ft. of carpet area, with five ongoing and eleven upcoming developments covering ~25.5 lakh sq. ft. of carpet area and ~18.7 lakh sq. ft. of saleable area.

Currently, Sri Lotus Developers has a strong presence in Juhu and Andheri West, with expansion plans into South Mumbai, Central Mumbai, Bandra, and Versova.

Mumbai: A Mumbai-based businessman has accused a city builder of duping him of over Rs 3.10 crore in an allegedly fraudulent flat sale at the Ison Heights project in Lower Parel, after waiting nearly a decade for possession. Following the complaint, the N. M. Joshi Marg Police have registered a case of cheating against Ishwarlal Lakhada of Hatadiya Builders Pvt. Ltd.

According to the FIR, the complainant, Champat Suthar, 49, who runs a glass business and resides in Chinchpokli (East), was looking to buy a new flat in 2014. Through a mutual business contact, he was introduced to real estate agent Champalal Jain, who showed him an under-construction project called Ison Heights, being developed by Hatadiya Builders Pvt. Ltd. on N. M. Joshi Marg, Lower Parel.

Jain assured Suthar that 14 floors of the building had already been completed and possession would be given within the next 18 months. Impressed with the property during a site visit, Suthar agreed to proceed with the purchase and was introduced to builder Ishwarlal Lakhada, a resident of Aditya Building, Sikka Nagar, V. P. Road, Mumbai.

A deal was finalized for Flat No. 702 on the 7th floor at a total cost of Rs 2.46 crore — Rs 2.36 crore for the flat and Rs 10 lakh for a parking slot. Between April 16, 2014 and August 18, 2016, Suthar claims to have paid Rs 1.12 crore via cheques and another Rs 1.30 crore in cash, totaling Rs 2.42 crore.

However, according to the complaint, Lakhada started avoiding the flat agreement process after receiving the payments.

In 2017 and 2018, the construction of the project came to a standstill. Work resumed in January 2019, prompting Suthar to once again follow up with the builder, who then allegedly demanded additional payments. Suthar transferred an additional Rs 67.82 lakh via cheques to Hatadiya Builders account.

By April 8, 2024, the total amount paid by Suthar had reached Rs 3.10 crore. Lakhada had reportedly promised to hand over the flat by September 2024, but failed to do so. After multiple follow-ups yielded no response, Suthar sent a legal notice on March 8, 2025, demanding possession within 15 days. With no reply from the builder, Suthar approached the N. M. Joshi Marg Police.

Based on the complaint, police have booked Ishwarlal Lakhada under Section 420 (cheating) of the Indian Penal Code. Further investigation is underway.

Mumbai, Oct 1: Shiv Sena Uddhav Balasaheb Thackeray (UBT) chief Uddhav Thackeray on Wednesday demanded that the Maharashtra government immediately provide Rs 50,000 per hectare compensation to farmers and a special scheme on the lines of Prime Minister’s Awas Yojana should be introduced to rebuild the houses damaged in rural areas due to heavy rains and floods in Marathwada and rest of the state. “So, is the BJP-led government waiting for all the farmers to join the Bharatiya Janata Party to waive off these loans?” he taunted.

He slammed the Maharashtra government for not announcing crop loan waiver despite repeated demands by farmers and the Opposition parties.

“If the government is taking a guarantee of hundreds of thousands of crores of sugar tycoons after they join the BJP, meaning if they default on their loans, the government will pay that money, meaning the general public will pay.

“Maharashtra is facing a crisis of heavy rains. I have also requested the government with folded hands that we can all come together and find a way out of this crisis without bringing politics into it. But the government does not seem to be ready for that. The Chief Minister is busy with publicity. One Deputy Chief Minister is busy distributing aid packets with his own photos printed on them. Another Deputy Chief Minister is not visible. When any issue comes up, this other Deputy Chief Minister is never seen, the people are left in the lurch,” claimed Thackeray without naming CM Devendra Fadnavis and his two deputies Eknath Shinde and Ajit Pawar.

He further expressed displeasure over banks serving notices to farmers for the recovery of debt, saying that it will further hit growers badly.

“Farmers cannot get loans without mortgaging something. The government never guarantees their loans. Today, the situation is such that their crops along with the land have been destroyed and they are dying under the burden of debt. There are reports of farmers committing suicide every day,” Uddhav Thackeray remarked.

Thackeray also read out the letter written by Devendra Fadnavis in his capacity as the Leader of the Opposition to him on October 16, 2020 during the Maha Vikas Aghadi government’s tenure, demanding the declaration of a wet drought. He also demanded that the MahaYuti government should now declare wet drought.

“Call it a wet drought or a drought of your imagination, whatever you call it, the farmers are in trouble today. The farmers should be immediately provided with assistance of Rs 50,000 per hectare. A new rural scheme like the PMAY must be announced soon,” Uddhav Thackeray demanded.

“Instead of using the word “wet drought”, I (as Chief Minister) used the word “disaster-hit”. How can you deny the crisis because there is no mention of wet drought. Can you deny the damage caused because the term “wet drought” is not in the government manual. Do words sometimes change according to the status of people? Let’s not play with useless words. The central team has not yet come to the state. Everything is being done ruthlessly by conducting inspections and panchnamas,” Uddhav Thackeray pointed out.

Thackeray said that the government should not make paper horses dance during the present crisis. “Schools in flood-affected areas should be opened immediately, there is a problem of spread of diseases. The Prime Minister is providing free food grains to 80 crore people of the country, but the one who grows all this has been devastated. In many places, farmlands have been washed away, roads have been washed away, the government should pay immediate attention. The government is not working,” Uddhav Thackeray claimed.

Thackeray also criticised the Maharashtra government for its decision to cut Rs 5 per tonne from sugarcane farmers and Rs 10 per tonne for the Chief Minister’s Relief Fund making it a total of Rs 15 per tonne.

“You have given amnesty to sugar tycoons, we are demanding crop loan waiver for the poor farmers. The time has come for the farmers to mortgage their land and ‘mangalsutras’. Currently, the farmers are burdened with debt due to the loss of crops and they have been further burdened with the cut of Rs 15 per tonne,” he said.