Arkade Developers Signs Agreement for ₹740 Crore Malad West Redevelopment Project
Arkade Developers has signed an agreement to redevelop Nutan Ayojan, a cooperative housing society in Malad West, Mumbai. The project has an estimated gross development value (GDV) of ₹740 crore. The redevelopment will cover 6,858 square meters, with a total saleable area of approximately 2.33 lakh square feet in RERA carpet area. The project will have 32 residential floors, offering 2 BHK and 3 BHK apartments. Upon completion, 408 homes will be delivered, with around 215 units available for sale.
Amit Jain, Chairman and Managing Director of Arkade Developers, stated that the project is planned to provide housing solutions while allowing residents to remain in the same locality. He highlighted the company’s strategy of focusing on redevelopment, strategic acquisitions, and optimizing its land bank. Arkade Developers is also working on expanding its launch pipeline to drive growth in Mumbai’s real estate market.
The company has been identifying redevelopment opportunities in locations with demand for housing. By undertaking projects in areas with established infrastructure, Arkade Developers aims to strengthen its market position.
Malad West has seen an increase in real estate activity due to improved connectivity and infrastructure development. The area is linked to business hubs through the Western Express Highway, Link Road, and upcoming metro corridors. These transport networks have contributed to the demand for housing in the locality.
According to local real estate brokers, residential apartments in Malad West are priced between ₹35,000 and ₹40,000 per square foot. Redevelopment has gained importance as many cooperative housing societies seek to replace older structures with new developments.
The Malad West project follows another redevelopment initiative by Arkade Developers in Dahisar. On February 12, the company announced a cluster redevelopment project in Dahisar East, with an estimated GDV of ₹1,700 crore. The company acquired a 6.5-acre land parcel for the redevelopment of Anand Nagar Society. The total saleable area of the Dahisar project is approximately 6.76 lakh square feet.
The Dahisar project involves replacing old buildings with new residential units. The redevelopment will include updated layouts and improved infrastructure to meet housing requirements.
With multiple redevelopment projects in Mumbai, Arkade Developers is strengthening its presence in the real estate sector. Amit Jain emphasized that redevelopment remains a key focus for the company in optimizing land use and meeting housing demand.
Mumbai has seen an increase in redevelopment projects as housing societies look to upgrade aging structures. Given the limited availability of land, redevelopment has become an important method for increasing housing supply. Developers continue to work on projects that replace older buildings with updated residential spaces.
Arkade Developers is prioritizing redevelopment in strategic locations to expand its project portfolio. With ongoing projects in Malad West and Dahisar, the company is increasing its participation in Mumbai’s redevelopment sector.
