Arkade Developers Signs ₹350 Crore Redevelopment Deal in Goregaon, Key Highlights:
- Project Overview: Arkade Developers’ Jal Ratan Deep at Bangur Nagar, Goregaon West, is a mixed-use redevelopment project with an estimated GDV of ₹350 crore, covering ~4,640.60 sq. meters.
- Residential & Commercial Mix: The project includes 2 BHK and 3 BHK residences along with commercial spaces, catering to high-end buyers seeking larger homes and enhancing the area’s commercial ecosystem.
- Strategic Expansion: This project strengthens Arkade Developers’ presence in Goregaon-Malad micro-market, with a second nearby project (~₹230 crore GDV) set for launch in February, taking the combined GDV to ₹580 crore.
- Market Potential: Redevelopment in Mumbai is booming due to land scarcity and ageing buildings; suburbs like Goregaon, Borivali, and Vikhroli are high-growth zones for modern residential and mixed-use projects.
- Company Vision: Jal Ratan Deep aligns with Arkade Developers’ mission to deliver sustainable, future-ready communities, boosting urban infrastructure while attracting both end-users and investors.
Mumbai stock market listed real estate company Arkade Developers Limited has signed a Development Agreement (DA) for a mixed, use redevelopment project, Jal Ratan Deep, at Bangur Nagar, Goregaon West, with an estimated Gross Development Value (GDV) of 350 crores. The statement points out that the company is expanding its activities in the western suburbs of Mumbai.
Key Details of the Project:
- The development will be undertaken on a plot of approximately 4,640.60 sq metres.
- It will include 2 BHK and 3 BHK residences along with commercial spaces.
- Aims to cater to high-end buyers seeking larger homes and boost the mixed-use character of Bangur Nagar.
According to the company's statement, As such, it helps to diversify the area's character further through a commercial, residential mix by catering to the high, end segment seeking bigger homes.The latter part of the sentence goes on to say that it basically folklorises the commercial ecosystem of Bangur Nagar thus improving the overall urban experience.
The development is in line with the mission statement of Arkade Developers which is to deliver sustainable, future, ready communities, in addition to strengthening their presence in the western suburbs of Mumbai.
As per Amit Jain, CMD, Arkade Developers Limited, “We have four projects completed and three ongoing in the Goregaon-Malad micro market. In addition to Jal Ratan Deep, we have another project adjacent to this lined-up for launch this month with an estimated GDV of ₹230 crore. The aggregated projected GDV for both the projects is ₹580 crores. This move reinforces our presence, creates long-term value for residents, and offers thoughtfully planned larger homes to new buyers.”
Besides, the company put the spotlight on its operatinal five projects launch plan in Mumbai Metropolitan Region (MMR) in 2026, which are expected to generate a combined revenue of over 3, 700 crore. Arkade Developers is planning to pump in almost 2, 500 crore as investment in these residential projects, thus further strengthening its position as a leading player in the region.
Goregaon West is a highly attractive micro market in the western suburbs of Mumbai, where residents can enjoy easy access to the commercial hubs, social infrastructure, and also good connectivity. The new projects of Arkade Developers such as Jal Ratan Deep will, without a doubt, be catalysts for the further development of the residential and commercial landscape of the area.
Redevelopment Market Potential
As per JLL report Since 2022, Mumbai’s residential redevelopment sector has surged, driven by land scarcity, ageing buildings, and rising demand for modern housing. Post-COVID data shows a 7x increase in new project launches and an 11x rise in sales value from 2020–21 to 2022–25, reflecting strong investor and buyer confidence. Suburban areas such as Vikhroli, Ghatkopar, Borivali, and Goregaon have been highly active, while core zones like Andheri, Bandra, Chembur, and Dadar are constrained due to older, smaller buildings, making redevelopment a key tool for unlocking housing supply in central locations.
Image JLL
The growth is driven by rising demand for modern urban living across key areas:
- South Mumbai: Dadar and Prabhadevi remain prime redevelopment hubs, valued for their central location, connectivity, and robust infrastructure. Redevelopment here is unlocking 20–30% more livable area compared to older buildings.
- South Central: Chembur and Matunga are seeing modern, planned developments near business centers, catering to professionals and families.
- North: Bandra, Khar, and Santacruz continue to attract upscale housing demand, offering premium amenities and seamless connectivity.
- Eastern Suburbs: Vikhroli and Ghatkopar benefit from improved infrastructure and commercial growth, driving redevelopment activity.
- Western Suburbs: Borivali and Goregaon combine suburban charm with urban conveniences, supporting high-density residential projects.
The company mentions that the redevelopment project will bring luxury homes with state of the, art facilities to the area, along with commercial spaces that will inject new life into Bangur Nagar. Jain added that this development mirrors our mission of building sustainable, future, ready urban spaces and thus strengthening our footprint in the key western suburbs.
The Jal Ratan Deep project is one more example of Arkade Developers commitment to mixed- use development that caters to the needs of residential and commercial sectors. It is an ideal mix of well thought out designs, modern facilities, and a great location that will undoubtedly attract both end users and investors.
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