NEW DELHI: Arkade Developers plans to invest approximately Rs 570 crore to develop three acres in Bhandup, Mumbai. The company purchased this three-acre land in September 2023 for Rs 103 crore.
The project called Arkade Rare will have seven towers of G+21 storey, 432 residential units along with 43 commercial units, featuring a mix of 2BHK and 3BHK apartments.
Amit Jain, chairman and managing director of the company said, “Arkade Developers is expanding its presence in the eastern suburbs of Mumbai. Bhandup is becoming a highly sought-after location for homebuyers looking to elevate their lifestyles.”
The total construction area is approximately 7,25,000 sq ft which will be developed in a single phase with an estimated sales value of Rs 760 crore.
