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Tribeca Developers has appointed Vaibhav Agarwal as its new executive director, a move that comes at a pivotal moment as the company prepares to expand its development pipeline, raise institutional capital for upcoming projects, and work towards an initial public offering (IPO).
Vaibhav Agarwal, who brings over 22 years of experience in the real estate and finance sectors, is set to lead Tribeca Developers’ future capital market strategies, fundraising initiatives, and business development efforts. His previous roles include serving as the chief credit officer (construction finance) at Tata Capital Housing Finance and as the zonal credit head for construction, realty, and the funding group at ICICI Bank.
Kalpesh Mehta, founder of Tribeca Developers, commented on the appointment: “Vaibhav’s leadership comes at a transformational moment for Tribeca. With his vast experience in real estate financing and deal-making, he will be instrumental in securing strategic partnerships and capital to fuel our next phase of growth.”
The appointment reflects Tribeca Developers’ commitment to strengthening its financial and operational foundation as it looks to diversify its capital base and accelerate project development. With plans to raise institutional capital and an ambitious roadmap to launch an IPO, the company is positioning itself for a new era of growth in the competitive real estate market.
Industry experts believe that Vaibhav Agarwal’s expertise will be a key asset in navigating the complex landscape of real estate financing, while his proven track record in securing funding and forging strategic alliances is expected to bolster investor confidence ahead of the planned public offering.
As Tribeca Developers charts its future, the strategic appointment of Vaibhav Agarwal marks a significant step in enhancing its market presence and expanding its project portfolio, setting the stage for transformative growth in the years to come.
Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has partnered with Livingstone Infra to redevelop a cluster of properties in Mahalaxmi, Mumbai. The ambitious project, with a gross development value (GDV) of approximately Rs 1,650 crore, marks a strategic foray into South Mumbai’s premium real estate market.
The partnership is set to revitalize the area by transforming existing assets into modern, upscale residential and commercial spaces.
In addition to the Mahalaxmi project, MLDL is also redeveloping a project in the Lokhandwala Complex of Andheri West, which is projected to generate a GDV of about Rs 950 crore. These redevelopment initiatives underscore the company’s aggressive growth strategy and commitment to unlocking the latent value of its extensive land bank.
To support its expansion and reduce existing debt, MLDL recently raised Rs 1,500 crore through a rights issue. The fresh capital infusion is expected to fuel the company’s redevelopment projects and further solidify its market presence in high-growth urban areas.
With the redevelopment in Mahalaxmi targeting the premium segment, industry experts anticipate that the project will significantly enhance the urban landscape of South Mumbai, providing state-of-the-art living spaces and robust investment returns. As Mahindra Lifespaces leverages strategic partnerships and strengthened financials, the forthcoming projects are poised to set new benchmarks in Mumbai’s competitive real estate market.
Bollywood megastar Shah Rukh Khan has entered into lease agreements for two duplex apartments in the upscale Puja Casa building located in the prestigious Pali Hill locality of Bandra West. The total annual rent for both properties amounts to Rs 2.9 crore, under leave and licence agreements for 36 months.
The transactions were registered on February 14, following their finalization approximately a week earlier. In the first deal, the actor leased a duplex spanning the first and second floors from producers Jacky Bhagnani and his sister, Deepshika Deshmukh. The monthly rent for this unit is Rs 11.54 lakh, supported by a security deposit of Rs 32.97 lakh.
The second deal involves a duplex on the seventh and eighth floors, with the lease signed with film producer Vashu Bhagnani. This unit commands a slightly higher monthly rent of Rs 12.61 lakh along with a security deposit of Rs 36 lakh. Combined, the monthly rental outgo for both apartments comes to Rs 24.15 lakh.
While an inquiry from ET to Shah Rukh Khan’s team remained unanswered at the time of going to press, the high-profile nature of these transactions underscores the continued allure of Mumbai’s luxury real estate market, particularly in coveted areas like Pali Hill.
Shah Rukh Khan’s residential portfolio is further highlighted by his iconic home, Mannat – a landmark bungalow in Bandra West’s Bandstand area. Originally a modest heritage structure purchased in 2001, Mannat has since been transformed into a sprawling multi-storey residence featuring luxurious interiors, a private theatre, a gym, and expansive living spaces. The property remains one of the most visited celebrity residences in Mumbai, drawing fans and media attention alike.
With this recent lease, Shah Rukh Khan adds another feather to his cap, reaffirming his association with premium properties in Mumbai’s most sought-after neighbourhoods. The move not only reflects the actor’s penchant for luxury living but also signals a robust market for high-end residential leases in the city.
The Bombay High Court has refused to grant anticipatory bail to 73-year-old builder Umraosingh Ostwal, who is accused of fraudulently altering building plans in a redevelopment project in Jesal Park, Bhayandar (East). Ostwal faces arrest under a 2021 FIR registered at the Navghar police station, following complaints by flat purchasers and a local ward officer of the Mira-Bhayandar Municipal Corporation (MBMC).
According to the FIR, MBMC’s original sanctioned plan for Ostwal Ornate Building No. 2 designated floors one to seven for residential use. However, Ostwal is accused of preparing a bogus building plan that misrepresented the first floor as intended for commercial use. This alleged forgery led to the construction of 112 shops on the first floor in place of the approved 16 residential flats. The charges include cheating, forgery, and the use of fake stamps and signatures purportedly of MBMC officers.
Despite being on interim protection since July 2021 – a measure intended to prevent his arrest while investigations were ongoing – Ostwal’s anticipatory bail application was rejected by Justice Shivkumar Dige. The court noted that, although the construction has since been regularised, the illegal act of submitting a false sanction plan cannot be overlooked. “The fabrication of a sanction plan with fake signatures and stamps, to show the first floor as commercial instead of residential, is an act that must be thoroughly investigated,” the judge stated.
Prosecutor Sangeeta Shinde emphasized the need for custodial interrogation to probe the preparation of fake stamps and forged documents, which were allegedly submitted to the registrar’s office during the sale of the shops. Senior advocate Shirish Gupte, representing Ostwal, argued that the plan in question was obtained through a Right to Information request and exists in MBMC records, suggesting that it may not be fabricated. However, the court remained unsatisfied with this explanation.
The case has sparked concerns over regulatory oversight in redevelopment projects, as flat purchasers continue to suffer from deviations from the originally approved residential plans. With Ostwal now facing further custodial interrogation, authorities are expected to intensify their probe into the matter, highlighting the challenges in enforcing compliance and maintaining transparency in urban redevelopment schemes.
Arkade Developers is set to transform Nutan Ayojan, a co-operative housing society in Malad West, Mumbai, through a major redevelopment project spanning 6,858.90 square meters. The ambitious venture is expected to generate a gross development value (GDV) of approximately Rs 740 crore, with a total saleable RERA carpet area of around 2.33 lakh square feet.
The redevelopment will feature a mix of 2 and 3 BHK apartments, integrated within a modern residential complex that includes two basements, four podium parking levels, an eco-deck, and 32 residential floors. Upon completion, the project will offer 408 homes, with about 215 units available for sale.
The redevelopment of Nutan Ayojan forms part of Arkade Developers' broader strategy to tap into emerging micro-markets while maximizing the value of its existing land assets. Located in one of Mumbai's dynamic suburbs, the project is expected to attract considerable interest from homebuyers looking for modern amenities combined with the charm of co-operative housing.
Industry experts note that such redevelopment initiatives not only enhance the urban landscape but also contribute significantly to the city's real estate growth by offering improved living standards and robust investment potential. As construction is set to begin soon, the project is poised to play a key role in the ongoing transformation of Mumbai's residential market.
With this development, Arkade Developers reinforces its position as a leading player in the city's redevelopment sector, promising to deliver enhanced value for both investors and prospective homeowners alike.
In a major push for urban redevelopment and improved living conditions, the Maharashtra Housing and Area Development Authority (Mhada) and the Slum Rehabilitation Authority (SRA) have announced plans to expedite 17 joint slum rehabilitation projects across Mumbai. The initiative is expected to generate approximately 25,000 housing units on Mhada-owned land, providing a significant boost to the city's affordable housing drive.
The joint effort will streamline the redevelopment process by coordinating on critical aspects such as slum dweller eligibility verification, securing administrative approvals, and managing the tendering process. Among these projects, the Malvani Malad redevelopment stands out as the largest, covering 14,000 slum dwellers.
Of the 17 projects, eight have already undergone actions under Section 13(2) of the Slum Rehabilitation Act, which resulted in the withdrawal of the original developers. These affected projects are spread across key areas, including 12 in Goregaon, two in Bandra, five in Kurla, and two in the Borivali-Dahisar region. Feasibility assessments for an additional five projects are underway, further underscoring the extensive scope of this initiative.
In a directive to accelerate the process, Mhada's Vice President and CEO, Sanjeev Jaiswal, has instructed officials to conduct a biometric survey of all residents on the project sites. This survey will help verify eligibility and ensure that ineligible slum dwellers are swiftly removed from the redevelopment rolls. Furthermore, for sites that currently lack proper access roads, both Mhada and SRA have committed to providing the necessary connectivity to support future development.
This coordinated approach by Mhada and SRA is anticipated to not only expedite the construction of new housing units but also enhance transparency and efficiency in the slum rehabilitation process. By addressing key administrative and infrastructural hurdles, the initiative aims to transform the lives of thousands of Mumbai's underprivileged residents and set a benchmark for future urban redevelopment projects in the state.
In a high-profile transaction that underscores Mumbai’s enduring appeal as a hub for luxury real estate, former cricketer Zaheer Khan, his wife Sagarika Ghatge, and her brother Shivjeet Ghatge have acquired a premium apartment in Lower Parel for Rs 11 crore. The property is part of the upscale Indiabulls Sky development, crafted by Equinox India Developments, and represents one of the most talked-about acquisitions in the city’s competitive market.
The newly registered apartment offers a generous carpet area of 2,158 sq ft (200.47 sq meters) and a built-up area of 2,590 sq ft (240.58 sq meters), ensuring spacious living and contemporary design. Adding to its luxury appeal, the property comes with three dedicated car parking spaces, a highly sought-after feature in Mumbai’s bustling urban environment. The transaction, finalized in February 2025, involved a stamp duty payment of Rs 66 lakh and a registration charge of Rs 30,000, as detailed in the Inspector General of Registration documents.
Market trends in Lower Parel have consistently reflected strong demand for upscale residential properties, with the average resale price in the Indiabulls Sky project currently hovering around Rs 49,096 per sq ft. This acquisition not only emphasizes the premium valuation of properties in this sought-after locality but also highlights the continuing trend of celebrity investments driving market interest in luxury real estate.
Industry experts note that the strategic location of Indiabulls Sky in Lower Parel, coupled with its modern amenities and robust infrastructure, makes it a prime destination for high-net-worth individuals. The development’s reputation for quality construction and sophisticated design has positioned it as one of the top choices for investors looking for both lifestyle and value appreciation in Mumbai.
With this acquisition, Zaheer Khan and Sagarika Ghatge further cement their status as prominent figures in the real estate space, reflecting a growing trend of celebrity endorsements in the high-end property market. As Mumbai continues to attract substantial investments in its luxury segment, transactions like these are set to boost investor confidence and spur further development in the city’s most coveted neighborhoods.
In a major development shaking the banking and real estate sectors, a top official from New India Cooperative Bank has been arrested for allegedly embezzling Rs 122 crore. The bank’s general manager and head of accounts, Hitesh Mehta, has reportedly admitted to transferring Rs 70 crore to real estate developer Dharmesh Paun to complete an SRA project in Charkop, Kandivali.
The case was registered by Devarshi Ghosh, the bank’s acting chief executive officer, at Dadar police station and has since been handed over to the Economic Offences Wing of Mumbai police. Along with Mehta, developer Dharmesh Paun was also taken into custody, and both have been remanded in police custody until February 1. Following the case registration, Mumbai police issued lookout circulars against Mehta and Unnathan Arunachalam (alias Arun Bhai, 55), a solar panel businessman. According to police reports, Mehta disclosed that he allocated Rs 70 crore to Paun and an additional Rs 40 crore to Arunachalam, while also admitting that a portion of the funds was diverted for his personal use.
The alleged embezzlement came to light when Reserve Bank of India (RBI) officials, during an inspection of the bank’s corporate office in Prabhadevi, discovered a significant shortage of funds in the safe. This led to a meeting with bank employees, during which Mehta claimed he was the custodian of the funds and assured that he would return the money. Investigators are now probing why an audit failed to uncover that such embezzlement had been reportedly occurring for the last five years.
This case not only highlights serious lapses in financial governance at New India Cooperative Bank but also raises broader concerns about internal controls within cooperative banking institutions. As the investigation continues, authorities are working to piece together the full extent of the fraudulent activities and assess the impact on the bank’s financial health.
In a remarkable turnaround for Maharashtra’s real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has witnessed an unprecedented surge in compliance among developers. The percentage of active housing projects updating their details on the MahaRERA portal has leaped from a negligible 0.02% in January 2023 to an impressive 62% today.
This dramatic improvement in compliance is largely attributed to MahaRERA's firm regulatory actions. To curb non-compliance, the authority has implemented stringent measures, including the freezing of bank accounts linked to non-compliant projects and the suspension of registration numbers. These decisive steps, combined with persistent follow-ups and comprehensive awareness drives, have compelled developers to submit their Quarterly Progress Reports (QPR) regularly.
Such a steep rise in compliance not only enhances transparency but has also contributed to a notable decline in homebuyer complaints, reinforcing confidence in the regulatory framework.
Developers are legally bound to update their QPRs on the MahaRERA portal by January 20, April 20, July 20, and October 20 each year. These reports are comprehensive, including:
These obligations are outlined under Sections 3, 4, and 11 of the Real Estate (Regulation and Development) Act, 2016, with further clarity provided by a court order dated July 5, 2022.
MahaRERA’s dedicated Compliance Cell, established alongside the launch of the ‘Financial Quarter-Based Project Progress Reporting System’ in January last year, has been instrumental in this success. The cell has actively engaged in:
These initiatives have significantly increased the regularity and accuracy of project updates, thereby ensuring that homebuyers have access to reliable and current information.
The surge in compliance rates to 62% is a testament to MahaRERA's commitment to fostering transparency and accountability within the sector. By mandating regular and detailed updates, MahaRERA is not only ensuring that developers adhere to their reporting obligations but is also paving the way for a more efficient and reliable real estate market in Maharashtra. Homebuyers now benefit from enhanced visibility into project progress, reducing the uncertainty often associated with property investments.
As MahaRERA continues to enforce these measures, the positive impact on the overall trust and integrity of Maharashtra’s real estate landscape is set to grow, encouraging a more robust and transparent market for all stakeholders.
Up to 10,000 cooperative housing societies from key cities like Pune, Mumbai, and Thane are eagerly awaiting the implementation of a single-window clearance system to kickstart the self-redevelopment of properties that are 30 years old and above. The proposal, first outlined in a Government Resolution (GR) issued on September 13, 2019 by the state housing department, aimed to streamline clearances by designating the Maharashtra State Cooperative Bank as the nodal agency.
Federation members have repeatedly reached out to the Chief Minister, urging him to implement the single-window system to remove these bottlenecks and enable societies to proceed with self-development projects. “We hope that the CM meets our demand, paving the way for societies to take up self-redevelopment,” he added.
The single-window system is designed to create an integrated, online platform where housing societies or developers can submit their redevelopment plans. The system would automatically forward proposals to the respective departments for scrutiny, suggest necessary corrections, and eventually provide details on premiums, fees, and taxes—all payable online. Once the process is complete, NOCs and approvals would be issued digitally, ensuring transparency and significantly reducing waiting times.
Advocate Shreeprasad Parab, expert director of the Maharashtra State Housing Federation, noted that the government had even proposed a 4% subsidised loan to support societies opting for self-redevelopment. “The single-window system will ensure transparency and help in ease of doing business. It will also push for the speedy development of our cities while protecting citizens' rights. We have been regularly following up with the government, and it is about time they make it happen,”.
However, many societies continue to face hurdles. A member of one such housing society shared that obtaining clearances has been particularly challenging due to delays from departments handling property tax, electricity, and other regulatory approvals. “This is a major hurdle for taking forward the redevelopment projects because societies may have to wait for years to secure the clearances,” the member lamented.
State cooperative department officials have mentioned that no self-redevelopment proposals have been received since the government announced that deemed conveyance for such projects should be granted within a month. Meanwhile, the Centre, through the National Cooperative Union of India, has been encouraging self-redevelopment as a strategy to make housing more affordable.
As housing societies in Maharashtra continue to wait for a streamlined approval process, the implementation of a single-window clearance system could be the catalyst needed to unlock the potential of self-redevelopment, fostering affordable housing and contributing to urban renewal.
In a significant real estate move, celebrity Gauhar Khan has purchased three luxury apartments in the prestigious Shiv Kutir Co-operative Housing Society, Versova, Mumbai, for a total transaction value of Rs 10.13 crore. The deals, registered in February 2025, reflect a growing trend of high-profile investments in Mumbai’s prime residential areas.
Gauhar Khan executed the transactions through two separate deals. In the first deal, an apartment was registered solely in her name for Rs 2.80 crore. This property boasts a carpet area of 1,104.75 sq ft (102.64 sq m) and a built-up area of 1,326.11 sq ft (123.20 sq m), and includes one designated car parking space. The transaction incurred a stamp duty of Rs 13.98 lakh and a registration fee of Rs 30,000, as per Inspector General of Registration (IGR) records.
In a second transaction, Khan, along with her husband, Zaid Darbar, jointly acquired two additional apartments in the same project. The combined cost for these properties was Rs 7.33 crore. The two apartments offer a total carpet area of 2,393 sq ft (222.32 sq m) and include two car parking spaces. This deal involved a stamp duty of Rs 43.97 lakh and a registration charge of Rs 30,000.
This acquisition by Gauhar Khan underscores the dynamic nature of Mumbai’s real estate market, particularly in upscale neighbourhoods like Versova. Known for its vibrant community and proximity to the Arabian Sea, Versova has long been a sought-after locality for luxury living. The transaction not only highlights the enduring appeal of the area but also sets a benchmark for high-profile property investments in Mumbai.
With the market showing resilient demand for premium properties, such high-value transactions are likely to bolster investor confidence. Industry experts suggest that celebrity investments often act as a catalyst, drawing further attention to the locality and potentially driving up property values in the region.
Gauhar Khan’s recent purchase of three apartments in Versova is a clear indication of continued investor interest in Mumbai’s luxury real estate segment. As the market evolves, transactions like these contribute to the narrative of Versova as a prime residential destination, reflecting both aesthetic appeal and robust investment potential. With all details meticulously recorded in February 2025, this move is set to further enhance the profile of the Shiv Kutir Co-operative Housing Society as a hub of upscale urban living.
The Builders Association of India (BAI) and the Maharashtra State Contractor's Association (MSCA), along with the Hot Mix Association and several other groups, have announced that they will step up their protest over the non-payment of government dues amounting to close to Rs 1 lakh crore. A joint meeting, the associations declared their intention to halt work on government contracts and pursue legal recourse if the outstanding payments are not cleared.
Anil Sonawane, State Chairman of BAI, emphasized the dire situation faced by contractors. “We will be left with no option but to seek legal remedy as there is no response from the government despite several requests. It has become difficult for the contractors to survive amid the mounting debts and loans taken from banks for the projects they are working on,” he said. Sonawane highlighted that the infrastructure and construction sectors are critical contributors to the state’s GDP, employing lakhs of people, and underscored the hardships faced in meeting timely salary payments.
This move comes after state government contractors and engineers initiated an indefinite stop-work protest across 35 districts last week, citing the failure of the government to respond to their ultimatum. Despite multiple requests for dialogue, no representative from the state government has engaged with the protesting bodies, leaving the contractors with mounting unpaid bills.
The non-payment issue spans multiple state government departments, including projects under the Public Works Department (PWD), the Rural Development Department, and the Jan Jeevan Mission. Contractors claim that while the government is releasing funds for schemes such as Ladki Bahin, they have failed to settle payments due for work completed.
In a letter addressed to the government, the MSCA and the State Engineers Association (SEA) warned that pending bills of approximately Rs 1 lakh crore remain unsettled. They further cautioned that no new contracts should be awarded unless there is adequate budgetary provision to clear existing dues. The letter also noted that there have been no payments made since July 2023, intensifying the contractors’ frustration.
With an ultimatum set for February 5, contractors across the state have threatened to cease all work on government projects if their demands for the release of funds are not met. The planned legal action and work stoppage mark a significant escalation in the protest, reflecting the deep-seated challenges faced by the construction industry in the state.
Aditya Birla Housing Finance Limited (ABHFL), a wholly owned subsidiary of Aditya Birla Capital, has raised Rs 830 crore in funding through Non-Convertible Debentures (NCDs) from the International Finance Corporation (IFC). This strategic investment is aimed at addressing critical gaps in the housing finance sector by extending housing loans to low-income and middle-income groups, with a special emphasis on promoting homeownership among women.
The funds raised will also support the growth of micro, small, and medium enterprises (MSMEs), particularly those led by women, thereby driving economic progress and fostering financial inclusion. This move is expected to uplift underserved communities by enhancing access to affordable housing and providing a much-needed boost to women-led enterprises.
The investment is set to create a significant impact on India’s sustainable development by strengthening the dynamic housing sector and improving financial access for MSMEs.
Wendy Werner, Country Head for India and Maldives at IFC echoed this sentiment, stating, "Through our partnership with Aditya Birla Housing Finance, we aim to expand affordable housing finance and enable more women to become business owners." This partnership highlights the importance of an inclusive approach to development, ensuring that critical sectors such as affordable housing and MSMEs receive the necessary support to thrive.
ABHFL, which commenced operations in October 2014 and is registered with the National Housing Board (NHB) as a non-deposit-accepting housing finance company, has consistently focused on bridging the financial gaps in the housing market. As of September 30, 2024, the company manages assets under management exceeding Rs 23,236 crore, underscoring its robust market presence and commitment to sustainable growth.
With the infusion of Rs 830 crore from IFC, ABHFL is well-positioned to further its mission of enhancing financial inclusion, particularly among low- and middle-income groups and women, while simultaneously supporting the growth of MSMEs. This funding not only strengthens ABHFL’s financial capabilities but also reaffirms its commitment to making homeownership accessible and promoting broader economic empowerment in the country.
In a significant development in the long-standing money laundering case, the Bombay High Court granted bail to DHFL promoters Dheeraj and Kapil Wadhwan on a bond of Rs 1 lakh each. The decision comes after the promoters were held in custody for nearly four years and nine months, raising serious concerns over their right to a speedy trial.
The bench, headed by Justice Milind Jadhav, observed that detaining an undertrial prisoner for such an extended period violates the fundamental right to a speedy trial guaranteed under Article 21 of the Constitution. With the trial unlikely to commence shortly, the court deemed further incarceration of the Wadhwans unnecessary, noting that they have already served more than half of the maximum seven-year sentence they face if convicted.
The bail order relates to the 2020 Yes Bank money laundering case, which centres on allegations of kickbacks in connection with a massive loan scam estimated at Rs 4000 crore. The case also involves Yes Bank’s founder Rana Kapoor along with other accused parties. Despite the Enforcement Directorate (ED) submitting draft charges as early as May 2023, the special court’s proceedings have experienced significant delays. The court emphasized that the delay cannot be solely attributed to the promoters, as charges have yet to be formally framed.
Counsel for the Wadhwans, Amit Desai, argued that the prolonged pretrial incarceration, now exceeding four years, not only impedes their right to liberty but also undermines the principle of speedy justice. The court accepted this argument, granting bail without delving into the merits of the case at this stage. The decision underscores the judiciary’s sensitivity to pretrial detention concerns, particularly when the investigation remains pending without a definitive timeline for trial commencement.
The Bombay High Court’s decision to release the DHFL promoters on bail marks a pivotal moment in the case. It reflects the judicial recognition of the balance between ensuring justice and upholding constitutional rights. While the legal process continues, this ruling provides temporary relief to the Wadhwans, highlighting the challenges faced in expediting complex financial fraud cases.
The bail granted by the Bombay High Court sets an important precedent regarding prolonged pretrial detention, reinforcing the right to a speedy trial under Article 21. As the investigation into the alleged Rs 4000 crore loan scam involving Yes Bank and DHFL’s promoters continues, stakeholders will closely monitor further developments in this high-profile case.
Bangalore-based Arkade Developers is set to transform a 6.5-acre parcel in Dahisar East, Mumbai, with a cluster redevelopment of the Anand Nagar Society. This ambitious project, spanning a plot area of 26,286 square meters, is projected to generate a gross development value (GDV) of approximately Rs 1,700 crore, marking a significant milestone in the company’s growth strategy.
The redevelopment initiative will offer a total saleable area of around 676,000 square feet, featuring a mix of residential and commercial spaces. This blend is designed to cater to the evolving demands of urban living, promising modern amenities and sustainable design principles that align with contemporary real estate trends.
Amit Jain, Chairman and Managing Director of Arkade Developers, commented on the project’s potential, stating, “The real estate sector is experiencing positive momentum, fueled by the 2025 Union Budget and its focus on housing and rental market growth.” Jain’s remarks underscore the favourable market conditions that have spurred the company to expand its portfolio across the Mumbai Metropolitan Region (MMR).
In addition to the Dahisar East redevelopment, Arkade Developers has strategically diversified its project pipeline this year by acquiring five new ventures. Highlights include:
Goregaon West Acquisition: In January 2025, Arkade acquired a four-acre land parcel in Goregaon West, currently leased to Filmistan. This asset is expected to generate a projected revenue of Rs 2,000 crore.
Western Suburbs Redevelopments: The company has also initiated three new redevelopment projects across Andheri East, Malad West, and Borivali West. These projects collectively cover approximately 20,232 square meters (around five acres) and are projected to offer a saleable carpet area of about 5.85 lakh square feet, with an estimated turnover of Rs 2,150 crore.
With a robust pipeline of 16 projects in the Mumbai Metropolitan Region—comprising six ongoing and 10 upcoming developments—Arkade Developers is poised to capitalize on the current market surge.
The positive momentum in the real estate sector, supported by favourable policy measures in the Union Budget, is creating a conducive environment for redevelopment and new construction projects. Arkade Developers’ strategic initiatives reflect a commitment to tapping into this growth, with a focus on quality, sustainability, and innovative urban planning.
The redevelopment of Anand Nagar Society is expected to set a benchmark in the region, offering enhanced living standards and integrated commercial spaces that meet the evolving needs of modern urban residents.
Arkade Developers’ latest venture in Dahisar East is a testament to the transformative potential of urban redevelopment in Mumbai. With a projected GDV of Rs 1,700 crore and a strategic expansion plan across the Mumbai Metropolitan Region, the company is well-positioned to drive significant value creation in the real estate sector. As market dynamics continue to evolve, projects like these will play a pivotal role in shaping the future of urban living in one of India’s most vibrant cities.