Arkade Developers Aims for ₹500 Crore Revenue with Second-Home Project in Karjat-Neral
Mumbai-based Arkade Developers is venturing into the second-home segment with a large-scale villa and plot development in the Karjat-Neral region, targeting aspirational buyers with a topline revenue goal of ₹500 crore.
Real EstateSecondhomeKarjatneralVilla DevelopmentMumbaiReal Estate MumbaiAug 04, 2025
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.
Frequently Asked Questions
What is Arkade Developers' target revenue from the second-home project in Karjat-Neral?
Arkade Developers is targeting a topline revenue of ₹500 crore from the second-home project in the Karjat-Neral region.
What is the price range for plots and villas in this project?
The project offers plots starting from ₹50 lakh and 3BHK villas priced up to ₹1 crore.
Why is the Karjat-Neral belt chosen for this project?
The Karjat-Neral belt is chosen for its strategic advantages, including affordability, access, and development potential, making it an ideal location for second-home buyers.
What other major developers are active in the second-home market around Mumbai?
Other major players in the second-home market around Mumbai include Mahindra Lifespaces, Godrej Properties, Wadhwa Group, House of Abhinandan Lodha (HoABL), and Arihant Superstructures.
What other significant projects has Arkade Developers announced recently?
Arkade Developers has announced eight redevelopment projects with a total gross development value (GDV) of over ₹5,000 crore, including the acquisition of the iconic Filmistan Studio in Mumbai for ₹183 crore and a 6.28-acre land parcel in Thane for ₹172 crore.
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