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Arkade Developers Ltd has added four redevelopment projects across Mumbai’s western suburbs, with an estimated combined revenue potential of around INR 5,000 crore. The projects are spread across Malad West, Kandivali West, Kandivali East and Borivali West and cover a total land area of 45,204 square metres, or 11.17 acres. Together, the projects are expected to have a saleable carpet area of around 15 lakh square feet. The Borivali West cluster redevelopment is the largest of the four, with an estimated sales potential of INR 3,000 crore. The company has completed 32 projects so far.
Realty firm Arkade Developers Ltd has added four redevelopment projects across key micro-markets in Mumbai’s western suburbs, with a combined projected revenue potential of around INR 5,000 crore.
The projects are located in Malad West, Kandivali West, Kandivali East and Borivali West and have a combined land area of 45,204 square metres, equivalent to 11.17 acres.
Together, the four projects are expected to have an aggregate saleable carpet area of around 15 lakh square feet. The company disclosed the details in a regulatory filing.
The largest of the four is a cluster redevelopment project in Borivali West, which has an estimated sales potential of INR 3,000 crore. The other three projects are located in Malad West, Kandivali West and Kandivali East.
The additions expand Arkade Developers’ redevelopment pipeline across Mumbai’s western suburbs, where redevelopment has become an important source of new housing supply amid limited availability of large land parcels.
Arkade Developers has completed 32 projects so far, covering around 55 lakh square feet. Another 20 lakh square feet of area is currently under construction.
The company’s latest projects will add to this development pipeline, with the combined 15 lakh square feet of projected saleable carpet area spread across the four redevelopment sites.
Source PTI