**Arkade Developers Acquires 4-Acre Land in Goregaon West for ₹165 Crore Luxury Housing Project**
New Delhi, Jan 28 – Arkade Developers has successfully acquired a 4-acre land parcel in Goregaon West, Mumbai, for ₹165 crore, with plans to develop a luxury housing project valued at ₹2,000 crore. The land, currently leased to Filmistan Pvt Ltd, was purchased from Aspen Properties Pvt Ltd and their joint venture partners, Kamanwala Housing Construction Ltd.
In a regulatory announcement, the company revealed that the new project will feature a modern luxury development with an estimated saleable area exceeding 5 lakh square feet, projected to generate approximately ₹2,000 crore in revenue. The site, which has historical significance as a former studio, spans around 16,200 square meters (4 acres) and is located in one of Mumbai’s most desirable neighborhoods.
Amit Jain, Chairman and Managing Director of Arkade Developers, emphasized the emotional connection the land holds for Mumbaikars, reflecting a nostalgic past. He noted that this site is among the last remaining pristine plots in western Mumbai, presenting a unique opportunity to create a landmark development. Jain highlighted the project’s commitment to providing exceptional living experiences that align with the aspirations of modern urban residents while honoring the city’s rich heritage.
He also pointed out that the strategic location of the site, along with its connectivity to major business districts, educational institutions, and social amenities, makes it a highly appealing investment. To date, Arkade Developers has completed 31 projects encompassing 55 lakh square feet, with over 20 lakh square feet currently under development.
