Arkade Developers Secures Major Redevelopment Project in Mumbai

Arkade Developers has acquired redevelopment rights for a co-op housing society in Mumbai's Malad West, expecting Rs 740 crore in revenue. The project will feature 408 homes with 215 for sale, and it marks another milestone in their expansive growth strategy across Mumbai's micro-markets.

Arkade Developers has announced a significant milestone, securing the redevelopment rights for the Nutan Ayojan co-operative housing society in Malad West, Mumbai. The development is projected to generate a Gross Development Value (GDV) of approximately Rs 740 crore.

The project will encompass 6,858.90 square meters, offering a total saleable RERA carpet area of 2.33 lakh square feet. It will provide 408 residential units, including 215 units available for sale, further extending Arkade's footprint in both residential and commercial markets.

Amit Jain, Chairman and Managing Director, expressed that the venture aligns with Arkade's strategic emphasis on capitalizing high-growth micro-markets through redevelopment and strategic asset acquisitions. With 31 projects already completed, Arkade continues to accelerate its growth trajectory.

(With inputs from agencies.)