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Arkade acquires redevelopment project in Goregaon, eyes ₹350 cr in revenue
The project will feature a mix of residential and commercial spaces. This marks the company's fifth acquisition in the Goregaon–Malad micro-market in recent times. The company already has four completed and three ongoing projects within this residential belt.
Amit Jain, chairman and managing director, Arkade Developers, said: 'Our foray into yet another society redevelopment project in Goregaon reaffirms Arkade's strong and growing footprint in this vital Mumbai suburb. We understand Goregaon's unique pulse and potential, having successfully delivered transformative projects in the area in the past. This latest acquisition aligns with our vision to create vibrant, future-ready spaces that add enduring value for homeowners, commercial users and the wider community.'
Besides, in the past one year, Goregaon West has seen 1,300 new property sale transactions with a gross sales value of Rs 1,961 crore, according to Square Yards Data Intelligence, a real estate data analytics firm.
The property rate in the area stood at Rs 35,208 per square foot as of the first quarter of the calendar year 2025 (Q1 CY25), against Rs 34,572 per square foot in Q1 CY24.
Earlier this month, the company bought a 6.28-acre freehold land parcel in Thane, a part of the Mumbai Metropolitan Region (MMR), for Rs 172.48 crore, including stamp duty.
In April, Arkade secured the cluster redevelopment rights for the redevelopment project of four housing societies in Borivali in the MMR, with an estimated gross development value of Rs 865 crore.
In February, the company secured another cluster redevelopment project with a gross development value of Rs 1,700 crore in Dahisar, a micro-market in the MMR.
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