Arkade Developers to Invest INR 570 Crore in Bhandup Real Estate Project
Arkade Developers has announced a significant investment of INR 570 crore in a new real estate project in Bhandup, Mumbai. The project, named Arkade Rare, aims to meet the growing demand for residential and commercial spaces in one of Mumbai's emerging su
Mumbai Real EstateArkade DevelopersBhandupResidential ProjectsCommercial UnitsReal Estate MumbaiOct 30, 2024
Arkade Rare will consist of seven towers, each reaching 21 stories in height. The project will offer a total of 432 residential units, including a mix of 2BHK and 3BHK apartments to accommodate various family sizes and budgets. Additionally, 43 commercial units will be included to support local businesses and enhance the area's economic environment.
Amit Jain, the chairman and managing director of Arkade Developers, spoke about the company's strategic vision. “Our investment in Bhandup reflects our commitment to developing quality housing in the eastern suburbs of Mumbai. This area is gaining popularity among homebuyers who seek an upgraded lifestyle and better living conditions,” he stated.
The total construction area for Arkade Rare will be approximately 725,000 square feet, all of which will be developed in a single phase. The project's estimated sales value is projected to be around INR 760 crore, a significant investment in a market where demand for housing in Mumbai remains high.
Bhandup's strategic location and excellent connectivity have made it a preferred choice for homebuyers. The suburb offers easy access to the Eastern Express Highway and is well-connected to Mumbai's suburban rail networks, making it an attractive option for professionals commuting to different business hubs across the city.
In addition to its transportation advantages, Bhandup has seen a surge in the development of amenities such as schools, hospitals, and shopping centers. This growth in infrastructure has further bolstered the appeal of the area, leading to a higher demand for modern housing options. Developments like Arkade Rare are timely and valuable in meeting this growing need.
The announcement of Arkade Rare also highlights a broader trend in Mumbai's real estate market. Many developers are recognizing the potential in suburbs that offer family-friendly environments and economic growth opportunities. The increasing presence of companies and IT parks in these areas is driving the demand for housing.
The push for affordable housing is another significant factor in this trend. Government initiatives aimed at promoting real estate development and simplifying regulations are encouraging builders to invest in suburban locations. This is crucial for addressing the housing shortage in Mumbai, where central locations have become increasingly unaffordable for many.
As Arkade Developers proceeds with its Bhandup project, it is not only contributing to the local economy but also playing a vital role in shaping the future of Mumbai's real estate landscape. With a focus on quality construction and a commitment to enhancing residents' lifestyles, Arkade Rare is poised to become a notable addition to Mumbai's urban fabric. Homebuyers looking for modern living with convenient access to the city may find this project meets their needs perfectly. As the demand for such developments continues to grow, Arkade's investment represents a positive step for the real estate sector in Mumbai.
Frequently Asked Questions
What is the total investment by Arkade Developers in the Bhandup project?
Arkade Developers is investing approximately INR 570 crore in the Bhandup project.
How many residential units will Arkade Rare offer?
Arkade Rare will offer a total of 432 residential units, including a mix of 2BHK and 3BHK apartments.
What is the estimated sales value of the Arkade Rare project?
The estimated sales value of the Arkade Rare project is projected to be around INR 760 crore.
What are the key transportation links in Bhandup that make it an attractive option for homebuyers?
Bhandup offers easy access to the Eastern Express Highway and is well-connected to Mumbai's suburban rail networks, making it an attractive option for professionals commuting to various business hubs across the city.
What is the strategic significance of Arkade Developers' investment in Bhandup?
The investment by Arkade Developers in Bhandup reflects their commitment to developing quality housing in the eastern suburbs of Mumbai, contributing to the local economy and addressing the housing shortage in the city.
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