Arkade Developers Sets Sights on Rs 1,700 Crore Revenue from Mumbai Redevelopment

Arkade Developers is planning to generate Rs 1,700 crore from a redevelopment project in Mumbai. The company has acquired a 6.5-acre plot in Dahisar East for the Anand Nagar Society redevelopment. In addition, Arkade purchased a 4-acre site in Goregaon with a projected revenue of Rs 2,000 crore.

Realty company Arkade Developers has announced ambitious plans to rake in approximately Rs 1,700 crore from a cluster redevelopment initiative in the Mumbai Metropolitan Region (MMR).

A recent regulatory filing revealed Arkade's acquisition of a 6.5-acre land parcel in Dahisar East for the redevelopment of the Anand Nagar Society. The project is set to cover 26,286 square meters, boasting a potential gross development value (GDV) of Rs 1,700 crore.

Arkade Developers is also moving forward with a 4-acre parcel acquisition in Goregaon West, currently leased to Filmistan Pvt Ltd, with an impressive projected revenue of Rs 2,000 crore. Altogether, Arkade has successfully completed 31 projects, totaling 55 lakh square feet, with ongoing development on an additional 20 lakh square feet.

(With inputs from agencies.)