Mumbai: Realty firm Arkade Developers Ltd has announced the purchase of a 14,364-square-metre land parcel in the Mumbai Metropolitan Region (MMR) for ₹148 crore. The company disclosed the transaction through a regulatory filing, confirming that it had signed a memorandum of understanding (MoU) to acquire 100 per cent shareholding in Woollen and Textile Industries Ltd.
The land, located in Bhandup (West), forms part of the proposed acquisition and will be held entirely under the company’s ownership. Arkade Developers specified that the total consideration for the deal amounts to ₹148 crore, reflecting the strategic value of the location within Mumbai’s real estate market.
Arkade Developers has a track record of completing 31 projects spanning 5 million square feet of area. Currently, the company is developing another 2 million square feet across ongoing projects. The acquisition aligns with Arkade Developers’ expansion strategy in key MMR locations and is expected to enhance its portfolio of residential and commercial developments.
Mumbai-based Arkade Developers is recognized among the leading private real estate developers in the country. Its focus on acquiring strategically positioned land parcels underscores its approach toward long-term growth and premium project development.
Industry analysts note that the acquisition of Bhandup land offers Arkade Developers access to one of the city’s emerging residential and mixed-use zones. The location benefits from enhanced connectivity to major transportation networks and proximity to central business districts, making it attractive for mid- and high-end residential projects.
The acquisition comes amid rising investor interest in MMR real estate, where strategic land purchases provide developers with options for large-scale residential and commercial developments. Arkade Developers’ move also reflects confidence in Mumbai’s property market, particularly in suburban hubs like Bhandup, which have witnessed growing demand from homebuyers and investors alike.
With this transaction, Arkade Developers aims to expand its footprint in Mumbai, leveraging the land for future development projects. The company is expected to integrate this acquisition into its ongoing and upcoming residential and commercial schemes, strengthening its market position in the MMR region.
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