Arkade Developers Acquires Iconic Goregaon Land for Luxury Housing Initiative

Arkade Developers purchased a 4-acre land in Mumbai's Goregaon West for Rs 165 crore, planning a Rs 2,000 crore luxury housing project. The historic site, formerly leased to Filmistan Pvt Ltd, offers over 5 lakh square feet of saleable area and aims to combine modern living with cinematic heritage.

In a major real estate move, Arkade Developers has acquired a 4-acre parcel of land in Goregaon West, Mumbai, from Aspen Properties Pvt Ltd and Kamanwala Housing Construction Ltd for Rs 165 crore. The premium plot, known for its cinematic past, is slated for a Rs 2,000 crore luxury housing project.

This strategic acquisition marks one of the few remaining opportunities to develop a landmark property in western Mumbai. The site promises a blend of modern luxury with the nostalgic charm associated with its historic significance, according to the company's Chairman and Managing Director, Amit Jain.

With an impressive saleable area over 5 lakh square feet, the project is positioned to leverage its prime location's connectivity to essential business and social amenities. Arkade Developers aims to merge the legacy of the site with contemporary urban demands, contributing a new chapter to Mumbai's real estate landscape.

(With inputs from agencies.)