Eyeing to strengthen its presence in the Mumbai realty market, Arkade Developers announced on Wednesday adding four new redevelopment projects across key micro-markets in the western suburbs. Collectively, the projects span approximately 45,204 sq. m. (11.17 acres) across Malad West, Kandivali West, Kandivali East and Borivali West, and have an aggregate projected saleable carpet area of approximately 15 lakh sq. ft. and a projected turnover potential of around Rs 5000 Crore.
“Redevelopment is a crucial part of Mumbai’s real estate growth journey and remains a core strength of our brand as we contribute to the city’s ever-evolving skyline. A testament to our efforts is the recent milestone achieved at Arkade Eden in Malad West, where we received the Occupancy Certificate (OC) nine months ahead of the committed RERA date,” said Amit Jain, Chairman and Managing Director, Arkade Developers.
Among the newly added developments are projects in the Ashok Nagar area of Kandivali East and Shankar Lane in Kandivali West. Together, these two projects comprise a plot area of approximately 12,611.5 sq. m., with a projected saleable carpet area of 3.5 lakh sq. ft. and an estimated Gross Development Value of Rs 1,100 crore.
The Malad West redevelopment spans approximately 8,428 sq. m. and is expected to offer a projected saleable carpet area of 2.5 lakh sq. ft., with a turnover potential of approximately Rs 900 crore.
The largest of the developments is the cluster redevelopment at Yogi Nagar – Plot B in Borivali West. Spread across approximately 24,165 sq. m., the project is expected to offer a projected saleable carpet area of 9 lakh sq. ft. and has a potential turnover of approximately Rs 3,000 crore.
The listed developer said that the addition of these redevelopment projects strengthens its development pipeline across some of Mumbai’s established residential micro-markets. Collectively, the projects have an estimated construction area of approximately 51 lakh sq. ft., further underscoring the scale and potential of Arkade Developers’ expanding redevelopment portfolio, it added.