Arkade Developers Limited has secured redevelopment rights for a large housing cluster in Mumbai’s Kandivali East suburb, in a project expected to generate an estimated gross development value (GDV) of around ₹1,100 crore ($132m).
The Mumbai-based real estate firm announced on Tuesday that it had acquired the rights to redevelop nine housing societies in the Ashok Nagar area of Kandivali East, one of the city’s rapidly growing residential hubs.
The planned project will cover around three acres and offer a saleable RERA carpet area of approximately 325,000 sq ft. The development is expected to include premium residential apartments and modern amenities aimed at urban homebuyers.
Arkade Developers said the redevelopment would rank among the most significant urban renewal projects in Kandivali East, reflecting increasing demand for upgraded housing in Mumbai’s ageing suburban neighbourhoods.
Kandivali East has emerged as a key residential market in recent years, supported by improved transport infrastructure including the Western Express Highway, Mumbai suburban railway network and Metro Line 2A. The area also benefits from proximity to commercial districts such as Bandra-Kurla Complex (BKC), Malad, Goregaon and Andheri.
Property developers have increasingly focused on redevelopment projects across Mumbai due to limited land availability and rising demand for modern housing. Such projects typically involve replacing older residential buildings with larger, upgraded developments offering improved facilities and higher-density housing.
Amit Jain, chairman and managing director of Arkade Developers, said the company aimed to create “future-ready communities” through projects focused on design, sustainability and community living.
Arkade Developers has a growing presence across Mumbai’s western, eastern and central suburbs through completed and ongoing residential projects. The company said it would continue expanding its footprint across the Mumbai Metropolitan Region (MMR) while focusing on long-term value creation in the housing sector.
