Arkade Group invests Rs 215 cr in realty in Mumbai; acquires land parcels, redevelopment projects

Arkade Group invests Rs 215 cr in realty in Mumbai; acquires land parcels, redevelopment projects

FPJ Web DeskUpdated: Wednesday, December 22, 2021, 06:09 PM IST
article-image
The outright purchase transactions are already executed for a plot of 1.5 acre at Goregaon and half acre from an MNC at Marol Andheri./Logo | Arkade website

Arkade Group, Mumbai-based residential realty company, announced the acquisition of six projects totaling 11,50,000 square feet of construction area and has already invested for Rs 215 crore. Comprising three plots on outright basis and three redevelopment projects, located across the western suburbs of Mumbai, these projects, shall generate topline of approximately Rs. 1,250 crore and RERA carpet area of 4,25,000 sq. ft. available for sale, it said in a press statement.

Amit Jain, Chairman and Managing Director, ARKADE, a second generation entrepreneur said, "Mumbai continues to be the most valuable realty market, which going forward, is set to offer a vast redevelopment opportunity. The recent acquisition is in line with this strategy."

The outright purchase transactions are already executed for a plot of 1.5 acre at Goregaon and half acre from an MNC at Marol Andheri. All the upcoming project locations are in locality of Western suburbs micro markets. Furthermore, one plot outright and one redevelopment project are at advance stage which shall see further investment of Rs 120 crore for acquisition with potential construction area of 7,30,000 square feet and topline of 800 crores and RERA carpet area available for sale is 3,30,000 square feet, it said in a press release.

RECENT STORIES

Gold Likely To Consolidate Next Week As US Data, Fed Meeting Loom: Analysts

Gold Likely To Consolidate Next Week As US Data, Fed Meeting Loom: Analysts

Global cues, FPI inflows and Q2 Earnings To Steer Markets, Muhurat Trading To Mark Samvat 2082

Global cues, FPI inflows and Q2 Earnings To Steer Markets, Muhurat Trading To Mark Samvat 2082

Muhurat Trading 2025: Confusion Over Date Resolved, Special Diwali Trading Session To Be Held In The...

Muhurat Trading 2025: Confusion Over Date Resolved, Special Diwali Trading Session To Be Held In The...

New GST Rules: Government Extends Return Filing Deadline, CBIC Issues Official Notification Giving...

New GST Rules: Government Extends Return Filing Deadline, CBIC Issues Official Notification Giving...

India’s Retail Inflation Set To Ease Further In October Below 0.5%, Supported By Food Price Drop...

India’s Retail Inflation Set To Ease Further In October Below 0.5%, Supported By Food Price Drop...