Arkade Developers Aims for ₹500 Crore Revenue with Second-Home Project in Karjat-Neral
In a strategic move into the leisure and lifestyle real estate market, Mumbai-based Arkade Developers is entering the second-home segment with a large-scale villa and plot development in the Karjat-Neral belt near Mumbai. The developer is targeting aspirational buyers with options ranging from ₹50 lakh for plots to ₹1 crore for 3BHK villas.
Chairman and Managing Director Amit Jain revealed that the company is scouting for 80–100 acres of land to execute the project. “We are targeting a topline of ₹500 crore. While the revenue estimate might appear modest, the strong profit margins in this segment make the venture highly lucrative,” Jain said.
With increasing demand for weekend and lifestyle homes within driving distance of Mumbai, Arkade sees the ₹50 lakh to ₹1 crore price range as both realistic and appealing to urban professionals and upper-middle-class buyers. Jain emphasized that the Karjat-Neral belt offers strategic advantages in terms of affordability, access, and development potential.
According to local brokers, ₹50 lakh plot options are limited in today’s market. The Rustomjee Group is offering similar plots in Kasara, indicating growing interest in suburban second-home destinations. For buyers seeking to build homes within ₹50 lakh, Grade B developers in Karjat, Neral, Shahapur, and Murbad are offering plots for around ₹20 lakh, leaving room for a 2BHK construction with the remaining ₹30 lakh.
The Karjat-Neral region is among the increasingly popular second-home destinations around Mumbai. Other hotspots include Lonavala, Khandala, Alibaug, Manor, Dapoli, Igatpuri, and Kasara. Several major players — including Mahindra Lifespaces, Godrej Properties, Wadhwa Group, House of Abhinandan Lodha (HoABL), and Arihant Superstructures — have entered the market in the past two years with similar leisure housing projects.
This second-home foray complements Arkade Developers’ aggressive expansion strategy in Mumbai. The company has announced eight redevelopment projects with a total gross development value (GDV) of over ₹5,000 crore. Notably, Arkade recently acquired the iconic Filmistan Studio in Mumbai for ₹183 crore, with plans to transform it into a luxury apartment complex worth ₹3,000 crore.
In June 2025, Arkade also acquired a 6.28-acre land parcel in Thane for ₹172 crore. The company plans a mixed-use development on this site, with a projected GDV of ₹2,000 crore and RERA saleable area of 9.26 lakh square feet.
