Arkade Developers Unveils Luxury Realty Project in Mumbai

Arkade Developers Ltd plans to invest Rs 570 crore in a luxury real estate project, Arkade Rare, in Mumbai's Bhandup West. The project spans 3 acres and includes 432 residential and 43 commercial units with a total sales value of Rs 760 crore. Arkade recently launched an IPO.

Arkade Developers Ltd has announced a significant investment of Rs 570 crore to develop a high-end real estate project, Arkade Rare, in the bustling area of Bhandup West, Mumbai.

The upcoming development will cover 3 acres and consist of 432 residential units, along with 43 commercial units. The entire construction is expected to encompass around 7,25,000 square feet, with a projected sales value of Rs 760 crore, according to the company's recent regulatory filing.

Amit Jain, Chairman and Managing Director of Arkade Developers, stated that the project is a strategic expansion within Mumbai's eastern suburbs. Following recent listings on stock exchanges and their new IPO launch, Arkade is building a robust presence in the Kanjur-Bhandup-Mulund corridor with projects like Arkade Earth and Arkade Nest.

(With inputs from agencies.)