Arkade Developers Secures Rs 1,700 Crore Cluster Redevelopment Project in Dahisar
Arkade Developers has bagged a significant cluster redevelopment project in Dahisar, Mumbai, with a gross development value of Rs 1,700 crore. The project spans 6.5 acres and is expected to offer 6.76 lakh square feet of saleable area.
Real EstateRedevelopmentDahisarMmrArkade DevelopersReal Estate MumbaiFeb 12, 2025
The project boasts a gross development value of Rs 1,700 crore and spans an area of 6.5 acres.
This strategic acquisition is expected to offer the company a total saleable area of approximately 6.76 lakh square feet.
Dahisar East has seen a surge in real estate activity over the past year, with over 925 new sale transactions generating a gross sales value of Rs 822 crore.
According to data from Square Yards Intelligence, the current property price in the area stands at around Rs 26,449 per square foot, with rental rates averaging Rs 48.1 per square foot.
Amit Jain, Chairman and Managing Director of Arkade Developers, highlighted the positive momentum in the real estate sector, driven by the 2025 Union Budget's focus on housing and rental market growth.
He noted that this favorable environment has enabled the company to acquire five new projects this year, including four redevelopments and one outright project, all strategically located in prime MMR regions.
Jain also mentioned that Arkade Developers has received four occupation certificates (OCs) ahead of the committed Real Estate Regulatory Authority (RERA) schedules.
The company is set to develop a range of luxury residences, including two, three, and four-bedroom units.
Earlier this year, the company acquired a four-acre land parcel in Goregaon West.
This land is currently leased to Filmistan Pvt Ltd and is expected to generate a revenue of Rs 2,000 crore upon development.
Additionally, Arkade Developers has added three new redevelopment projects in the Western Suburbs of Mumbai, covering a total area of 20,232 square metres (approximately five acres).
These projects are projected to offer a saleable carpet area of 5.85 lakh square feet, with an estimated turnover of Rs 2,150 crore.
Overall, Arkade Developers currently has a pipeline of 16 projects in the MMR region, with six under construction and 10 planned for future development.
The company has reported a revenue from operations of Rs 551.7 crore for the nine months ending December 2024, marking a 7.8 per cent year-on-year (Y-o-Y) increase.
Its profit attributable to the owners of the company grew by 19.7 per cent Y-o-Y to Rs 123.7 crore, while pre-sales reached Rs 556 crore, up 23.8 per cent Y-o-Y.
Arkade Developers is a leading real estate firm based in Mumbai, known for its innovative and high-quality projects.
The company focuses on strategic acquisitions and redevelopment projects in the Mumbai Metropolitan Region (MMR), consistently delivering value to its stakeholders.
Frequently Asked Questions
What is the gross development value of the new cluster redevelopment project in Dahisar?
The gross development value of the new cluster redevelopment project in Dahisar is Rs 1,700 crore.
How much saleable area will the project offer?
The project is expected to offer a total saleable area of approximately 6.76 lakh square feet.
What is the current property price in Dahisar East?
The current property price in Dahisar East is around Rs 26,449 per square foot.
How many new projects has Arkade Developers acquired this year?
Arkade Developers has acquired five new projects this year, including four redevelopments and one outright project.
What is the projected turnover of the three new redevelopment projects in the Western Suburbs of Mumbai?
The projected turnover for the three new redevelopment projects in the Western Suburbs of Mumbai is Rs 2,150 crore.
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