Arkade Developers has secured cluster redevelopment rights for nine housing societies in Mumbai’s Kandivali East, with a total saleable area of 3.25 lakh sq ft and an estimated Gross Development Value (GDV) of around ₹1,100 crore, the company said in a regulatory filing on May 27.
The upcoming project is located in the upscale Ashok Nagar locality of Kandivali East and spans nearly 3 acres. The development will comprise premium residences designed to cater to the evolving preferences of urban homebuyers, the company said.
Kandivali East has emerged as a key residential destination in Mumbai due to its connectivity through the Western Express Highway, suburban railway network, and Metro Line 2A. The area also benefits from established social infrastructure, including schools, hospitals, malls, and proximity to commercial hubs such as BKC, Malad, Goregaon, and Andheri.
“At Arkade Developers, every project is an opportunity to create spaces that go beyond homes, they inspire better living and stronger communities. With this new project in Kandivali East, we are delivering a lifestyle experience that reflects our commitment to thoughtful design, sustainability, and community-centric development. This redevelopment rights also reinforces our growth momentum as we continue expanding our footprint across MMR,” said Amit Jain.
With over four decades of presence in Mumbai’s real estate market, Arkade Developers has developed more than 5.5 million sq ft of property and currently has over 2 million sq ft under construction. The company is listed on both the BSE and NSE.
All about cluster redevelopment
Cluster development is an urban redevelopment approach in which multiple adjoining buildings or plots are combined into a single large project. It allows better planning, improved infrastructure, wider roads, open spaces, and amenities, while enabling the rehabilitation of existing residents and the more efficient use of land in crowded cities.
Mumbai’s real estate redevelopment market grew 16% in 2025 compared to the previous year, driven by a rise in redevelopment deals across the city. A total of 229 development agreements (DAs) for the redevelopment of old buildings were signed in 2025, up from 196 in 2024, according to data from Knight Frank India.
Of the total 1,094 DAs signed, Borivali in Mumbai's western suburbs had the highest number with 217, unlocking 90.4 acres of land, followed by Andheri with 115, unlocking 74.8 acres of land. The third highest number of 74 DAs were signed in Bandra, unlocking 24.4 acres of land, followed by Malad, where 67 DAs were signed, opening up 26.6 acres of land, and Ghatkopar, where the fifth highest number of 59 DAs were signed, opening up 14.1 acres of land for redevelopment, the report said.
Also Read: Mumbai's old building redevelopment market grows 16% in 2025; Momentum continues in 2026: Data