Arkade Developers signs agreement for mixed-use redevelopment project in Mumbai's Goregaon with ₹350 crore potential

Mumbai redevelopment news: Arkade Developers plans to develop both commercial and residential units as part of the project

Mumbai-based listed real estate, Arkade Developers Limited, which plans to develop luxury apartments on the iconic Filmistan Studio land in Goregaon, a site founded by Kajol’s grandfather, on February 5 announced that it has signed the Development Agreement (DA) for a redevelopment project Jal Ratan Deep at Bangur Nagar, Goregaon West, with an estimated Gross Development Value of ₹350 crore.

Mumbai real estate update: Arkade Developers announced that it has signed the Development Agreement (DA) for a redevelopment project, Jal Ratan Deep, at Bangur Nagar, Goregaon West, with an estimated Gross Development Value of ₹350 crore. (Picture for representational purposes only) (Gemini Generated Photo )

According to the company, the development will be undertaken on a plot measuring approximately 4,640.60 sq metres and will be designed to include 2 BHK and 3 BHK residences.

The company said that the project, will offer luxurious homes and commercial spaces in Goregoan West, a prominent micro-market in the western suburbs of Mumbai.

"Catering to high-end users seeking larger homes, it strengthens the area's mixed-use character and boosts Bangur Nagar's commercial ecosystem – enhancing the overall urban experience,' the company said in the statement.

“This development aligns with our vision of building sustainable, future-ready urban spaces, strengthening our footprint in key western suburbs. We have four projects completed and three ongoing in Goregaon-Malad micro market," Amit Jain, CMD, Arkade Developers Limited, said.

"In addition to Jal Ratan Deep, we have another project adjacent to the project lined-up for launch this month with an estimated GDV of ₹230 Crores. The aggregated projected GDV for both the projects is ₹580 Crs. This move reinforces our presence, creates long-term value for residents, and offers thoughtfully planned larger homes to new buyers," Jain said.

Arkade Developers Ltdannounced in January 2025 that it plans to launch five projects in MMR this year,with a combined revenue potential of over ₹3,700 crore. The company said it will invest close to ₹2,500 crore across these new residential projects.

The developer said that it is focused in the Mumbai Metropolitan Region (MMR), and continues to build strong growth momentum.

Arkade Developers has lined up five new project launches across key locations, including Goregaon, Thane, Borivali, Malad, and Santacruz, with a combined projected Gross Development Value (GDV) exceeding ₹3700 crore for the calendar year 2026, it had said.