Arkade Developers Registers INR 700 Crore Redevelopment Agreement

Arkade Developers Limited has registered a Development Agreement for the cluster redevelopment of Shree Rani Sati Nagar Co-operative Housing Society Limited, located at SV Road, Malad West, Mumbai. The project spans a total plot area of approximately 6,553 square metres. The estimated Gross Development Value (GDV) for this project is INR 700 crore. This registration is in line with Arkade’s strategic focus on redevelopment projects in Mumbai’s western suburbs.

The financial terms of the project include a projected GDV of INR 700 crore. This figure represents the estimated value of the development upon completion. The project is part of Arkade’s broader strategy to expand its footprint in the western suburbs of Mumbai, a key market for the company. The registration of this Development Agreement follows a recent agreement for a redevelopment project in Goregaon West, which has a projected GDV of INR 350 crore.

The scope of the Malad West project involves the redevelopment of the Shree Rani Sati Nagar Co-operative Housing Society Limited. The project is designed as a large-scale cluster redevelopment, aimed at transforming the existing housing stock into a modern residential development. The development will include contemporary urban living standards, enhanced lifestyle amenities, and upgraded infrastructure for the existing members of the society. The project’s strategic location along SV Road provides excellent connectivity to key business districts, social infrastructure, and transport corridors in Mumbai’s western suburbs.

In the context of Arkade’s business strategy, this project reinforces the company’s commitment to cluster redevelopment as a core growth driver. The Malad West project is positioned as a landmark opportunity due to its strategic location and scale. Arkade Developers continues to build a robust pipeline of redevelopment projects across Western Mumbai, leveraging its execution capabilities, design-led approach, and understanding of redevelopment dynamics.

The timeline for the project has not been explicitly detailed in the filing. However, the registration of the Development Agreement marks a significant milestone in the project’s implementation. Arkade Developers is responsible for delivering the modern residential development as per the terms of the agreement. The company is expected to manage the project in alignment with its established standards for quality and timely delivery.

Arkade Developers Limited is a leading luxury real estate developer in Mumbai, listed on both the BSE and NSE. The company has a legacy spanning over 39 years and has completed 31 projects, creating homes for over 5,500 families. Under the leadership of Chairman and Managing Director Amit Jain, Arkade Developers focuses on building family-friendly homes and upholds values such as trust, transparency, and commitment. The company is known for its timely project deliveries and has developed over 5.5 million square feet of property, with an additional 2+ million square feet currently under construction.