Arkade Developers Acquires 6.28-Acre Plot in Thane for ₹172 Crore, Plans ₹2,000 Crore Mixed-Use Development

Mumbai-based listed real estate firm Arkade Developers has acquired a 6.28-acre land parcel in Thane’s Kasarvadavali locality for ₹172 crore. The company announced the acquisition on June 13, stating that it will be developing a large mixed-use project on the site with an estimated gross development value (GDV) of ₹2,000 crore. The planned development will cover a RERA saleable area of over 9.26 lakh square feet.

The land, located off Ghodbunder Road in Thane West and facing the Sanjay Gandhi National Park, will be used to build a combination of residential and commercial infrastructure. The residential segment will include 2, 3, and 4 BHK units, while the commercial component is expected to include retail and office spaces. According to the company, the project site benefits from good connectivity via Ghodbunder Road and the Eastern Express Highway.

Amit Jain, Chairman and Managing Director of Arkade Developers, considers the Thane acquisition to be a major step in the company’s expansion strategy. With an established presence in central suburbs like Kanjurmarg, Mulund, and Bhandup, the move into Thane is aligned with the company’s intent to enter high-potential growth corridors in the Mumbai Metropolitan Region.

Mr. Jain views Thane as an evolving hub for residential and commercial development, supported by upcoming infrastructure such as the Thane-Borivali twin tunnel and Metro Line 4. He believes that such developments are improving access and quality of life in the area, making it a strategic choice for large-scale real estate investment. Jain also sees the move as consistent with broader market trends that show increasing demand for luxury and mid-premium housing.

Earlier in the year, Arkade Developers had acquired a prominent four-acre land parcel in Goregaon, formerly leased to Filmistan Pvt. Ltd. That site is projected to generate a GDV of ₹3,000 crore and is also being developed into a high-value residential and commercial project.

The Thane project continues this trajectory, reinforcing the company’s focus on well-located, high-value developments. Jain emphasizes that Arkade is positioning itself to capture demand in key suburban markets where end-users and investors are increasingly drawn by upgraded infrastructure and rising livability indices.

The Ghodbunder Road belt, in particular, has emerged as one of the most attractive locations in Thane due to its connectivity and proximity to green spaces. Real estate consultants and developers have noted that projects in this corridor consistently attract interest from both first-time buyers and investors seeking long-term capital appreciation.

Jones Lang LaSalle (JLL) India acted as the exclusive transaction advisor for the land deal. According to market sources, such large-scale acquisitions in Thane indicate growing developer confidence in the region’s future prospects, supported by steady absorption and infrastructure-driven growth.

Arkade Developers is expected to launch the Thane project in phases, with residential construction likely to take precedence. Commercial and retail segments will follow in subsequent phases, aiming to create a self-contained urban development catering to both homebuyers and business occupants.