Arkade Developers Launches ₹230 Crore Redevelopment Project in Goregaon West
Arkade Developers, a prominent real estate developer in Mumbai, has registered a Development Agreement for a premium redevelopment project named Jal Ratan Deep in Bangur Nagar, Goregaon West. The project, with an estimated Gross Development Value (GDV) of ₹350 crore, marks a significant addition to the company's portfolio in the western suburbs of Mumbai. The development was announced through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Jal Ratan Deep project is envisioned as a contemporary high-rise development, offering luxurious homes and commercial spaces. Located in Bangur Nagar, Goregaon West, the project will cater to high-end users seeking larger homes. The development is designed to enhance the mixed-use character of the area and boost the commercial ecosystem of Bangur Nagar.
Project specifications include a plot area of 4,640.60 square meters, with the development comprising luxury 2 and 3-bedroom residences. The project is a mixed-use redevelopment, combining residential and commercial spaces to meet the diverse needs of the community.
Commenting on the development, Mr. Amit Jain, CMD of Arkade Developers Limited, stated, 'This project aligns with our vision of building sustainable, future-ready urban spaces. It further strengthens our footprint in key western suburbs, where we have already completed 4 projects and have 3 ongoing developments in the Goregaon-Malad micro-market.'
The company has also revealed plans for another project adjacent to Jal Ratan Deep, which is set to launch soon with an estimated GDV of ₹230 crore. The combined projected GDV for both projects totals ₹580 crore, solidifying Arkade Developers' significant presence in the western suburbs market.
Arkade Developers has a legacy spanning over 39 years, during which they have completed 31 projects and created homes for over 5,500 families. The company has developed over 5.50 million square feet of property, with an additional 2+ million square feet currently under construction. Listed on both BSE (544261) and NSE (ARKADE), Arkade Developers is known for its timely project deliveries and commitment to quality.
The company's track record and strategic market position in the western suburbs of Mumbai are further strengthened by these new developments. With a focus on sustainable and high-quality urban spaces, Arkade Developers continues to meet the growing demand for luxury and mixed-use developments in the region.
