ARKADE DEVELOPERS BAGS REDEVELOPMENT

Should earn Rs 1,700 crore

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Arkade Developers has completed the acquisition of a prime land parcel located in Goregaon West in the western suburbs of Mumbai from Aspen Properties and their joint venture partners, Kamanwala Housing Construction, for a total consideration of Rs 165 crore and paid the stamp duty of Rs 9.9 crores.

The project will foresee a modern luxury development with an approximate saleable area exceeding 5 lakh square feet, contributing an estimated revenue of Rs 2,000 crore.