This Real Estate Development Company Secures a Redevelopment Project of 6.5 Acres in Dahisar, having a GDV of 1700 Crore!
The stock of the company was listed on BSE and NSE on September 24, 2024.
Arkade Developers, a listed entity, has acquired a 6.5-acre land parcel for the cluster redevelopment of Anand Nagar Society in Dahisar East, in a move expected to significantly enhance the area’s real estate landscape. The redevelopment project, which spans a plot area of 26,286 square meters, is projected to generate a gross development value (GDV) of ₹1,700 crores approximately.
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The project is set to offer a total saleable area of approx.676,000 square feet and the project will feature residential and commercial spaces aimed at meeting the growing demand for highquality developments in the region. This marks a significant milestone for Arkade Developers as it continues to expand its footprint in the Mumbai metropolitan region, further strengthening its position in the real estate sector.
Dahisar is a fast-growing micro-market and the project is strategically located in proximity to Dahisar Station, Anand Nagar Metro Station and Western Express Highway.
Commenting on the acquisition, Mr. Amit Jain, Chairman and Managing Director of Arkade Developers, said, “The real estate sector is experiencing positive momentum, fueled by the 2025 union budget and its focus on housing and rental market growth. This favourable environment has spurred Arkade Developers by acquiring five new projects this year- four redevelopment and one outright project, strategically located in all prime MMR regions. We have received 4 OCs ahead of the committed RERA schedules, affirming our commitment to efficiency and adherence to timelines that are in line with the principle of Family First, we are optimistic about the projects we have acquired this year and we will develop 2, 3, 4-bedroom luxury residences”.
Arkade Developers also acquired a 4-acre land parcel in Goregaon West in January. The parcel is currently leased to Filmistan Pvt. Ltd. and has a projected revenue of ₹2,000 Crore.
Further, Arkade Developers added 3 new redevelopment projects in key micro-markets within the Western Suburbs of Mumbai, developing 20,232 square meters (Approx. 5 Acres) across these redevelopment projects located in Andheri East, Malad West and Borivali West. The projected saleable carpet area is approx. 5.85 lakh sq. ft generating a projected turnover of Rs 2150 CR.
Pioneers in Timely Delivery, Arkade Developers has achieved a significant milestone in FY2024-25 by receiving four Occupation Certificates (OCs) ahead of the RERA schedule for its premium projects in the western suburbs: Arkade Crown, Arkade Aspire, Arkade Aura and Arkade Prime. This achievement underscores our commitment to timely delivery and customer satisfaction out of the 650+ units created. We have already handed over possessions to over 450+ happy families in Arkade Aspire and Arkade Crown projects and are currently in the process of handing over possessions to approximately 200+ families.
Arkade Developers is poised for significant business growth with a robust pipeline of 16 projects in the MMR region: 6 ongoing and 10 upcoming developments. This strategic expansion positions Arkade to contribute significantly to Mumbai's evolving skyline.
Arkade Developers Ltd is currently trading at Rs 150 per share with a market cap of Rs 2,785. The stock of the company was listed on BSE and NSE on September 24, 2024.
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Disclaimer: The article is for informational purposes only and not investment advice.