As of 11:58 AM on April 8, 2025, share price of Arkade Developers Limited witnessed a rise of over 3%, following the company’s announcement of a major redevelopment agreement in Mumbai.
Arkade Developers Limited has formally registered a development agreement (DA) for a cluster redevelopment project in Borivali West. This involves four cooperative housing societies: Satya Shreepal Nagar A CHS Ltd., Om Shreepal Nagar B & C CHS Ltd., Sheetal Shreepal CHS Ltd., and Sai Shreepal CHS Ltd.
Located near Mahavir Nagar, the project spans 7,084 square metres and is expected to yield approximately 2.44 lakh square feet of saleable carpet area. The gross development value is estimated at ₹865 crores, marking a key addition to Arkade’s portfolio in Mumbai’s western suburbs.
The project is in line with Arkade’s growing focus on community-centric urban redevelopment. The company noted that the redevelopment aligns with the city’s increasing demand for modern, high-quality residential infrastructure in densely populated zones.
The upcoming development aims to integrate sustainable architecture with lifestyle-oriented features, aligning with Arkade’s reputation for enhancing liveability in urban neighbourhoods.
Speaking on the milestone, Mr Amit Jain, Chairman and Managing Director of Arkade Developers, said: “At Arkade, it is our endeavour to not just redevelop buildings—but rebuild communities. This project is a reflection of our philosophy to bring people luxury homes, stronger infrastructure, and vibrant neighbourhoods.”
He also highlighted the immense potential of the Borivali West micro market and reaffirmed the company’s commitment to contributing meaningfully to its transformation.
This announcement further underscores Arkade Developers’ active role in Mumbai’s urban redevelopment. With more than 5.5 million square feet already delivered and over 2 million square feet currently under development, the company maintains its focus on quality construction and timely delivery.
Arkade’s robust pipeline across the MMR region positions it as a key player in reshaping Mumbai’s residential landscape through high-value, community-focused projects.
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Published on: Apr 8, 2025, 2:49 PM IST
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