Macrotech Developers, a subsidiary of the Lodha Group, has emerged as the successful bidder for V Hotels Ltd., acquiring the Tulip Star (formerly Centaur Hotel Juhu) in Mumbai. The Committee of Creditors declared Macrotech Developers as the resolution applicant for the bankrupt hospitality company. Macrotech Developers highlighted the real estate assets of V Hotels that hold potential for residential and allied development. Additionally, Macrotech Developers acquired a land parcel in Kanjur Marg from HDFC. These acquisitions further solidify Macrotech Developers' position in the real estate industry and showcase their commitment to innovation and growth.
Macrotech Developers, the esteemed listed entity of the renowned Lodha Group, has emerged triumphant as the successful bidder for the esteemed V Hotels Ltd., an esteemed establishment based in the bustling city of Mumbai. This prestigious acquisition pertains to the ownership of Tulip Star, formerly known as the illustrious Centaur Hotel Juhu. The Committee of Creditors (CoC) has declared Macrotech Developers as the successful resolution applicant for V Hotels. Macrotech Developers, in its regulatory filing, has proudly acknowledged the possession of valuable real estate assets belonging to V Hotels, which possess tremendous potential for development in the residential and ancillary sectors.
In May 2002, V Hotels astutely took advantage of the esteemed government's divestment program and acquired the prestigious Centaur Hotel Juhu Beach from the esteemed Hotel Corporation of India. Situated on the coveted Juhu Tara Road in the affluent western suburb of Vile Parle, this prestigious hotel occupies a sprawling 6.1-acre land parcel. Currently, the hotel's operational activities are temporarily suspended, awaiting a rejuvenation that will restore its former glory.
In a separate endeavour showcasing their unwavering commitment to growth, Macrotech Developers has successfully acquired a substantial land parcel spanning over 6.80 acres in the central suburb of Kanjur Marg. Documents available on the Propstack platform confirms the acquisition facilitated by HDFC, valued at Rs 70 crore.
HDFC, has executed the sale of the land parcel in accordance with the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act of 2002. This land parcel, nestled in the locality of Juhu, holds immense potential for redevelopment, providing the opportunity for the creation of remarkable assets spanning diverse sectors such as residential, commercial, retail, or even a harmonious amalgamation of these spheres.
These remarkable developments reflect Macrotech Developers' unwavering dedication to innovation, excellence, and growth as they continue to redefine the realms of real estate and hospitality with their visionary approach. Through these strategic acquisitions, Macrotech Developers not only expands its footprint but also strengthens its position as a leader in the dynamic and ever-evolving real estate landscape.
Macrotech Developers Ltd. holds the position of India's largest real estate developer. The company primarily focuses on residential real estate projects, particularly in the affordable and mid-income housing segments. Macrotech Developers is actively involved in property development both in India and the United Kingdom. The company's diverse portfolio includes housing projects, premium and luxury housing developments, as well as industrial and logistics parks. Notable townships under its ownership are situated in Palava (Navi Mumbai, Dombivali Region) and Upper Thane (Thane outskirts). Furthermore, Macrotech Developers undertakes projects under the Lodha Luxury brand, featuring exclusive, high-value developments such as Lodha Altamount (Altamount Road), Lodha Seamont (Walkeshwar), and Lodha Maison (Worli).
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