+
Arkade Group acquires 2.05 acre plot from Hercules Hoists in MumbaiArkade Group acquires 2.05 acre plot from Hercules Hoists in Mumbai
Real Estate

Arkade Group acquires 2.05 acre plot from Hercules Hoists in MumbaiArkade Group acquires 2.05 acre plot from Hercules Hoists in Mumbai

According to the sources, Arkade Group acquired around 2.05 acres of the land parcel from Hercules Hoists for Rs 90 crore in Mumbai’s Mulund.

The company has already paid 10% of the acquisition amount to Hercules Hoists. With this acquisition, the company focuses on strengthening its presence in Mumbai’s eastern suburbs.

The company also announced the acquisition of six projects, having 11,50,000 sq ft of the construction area and has invested Rs 215 crore for the same.

These six projects include three plots bought based on an outright, while three redevelopment projects are located across the western suburbs of Mumbai. Moreover, these projects might generate around Rs 1,250 crore of sales revenues.

Arkade has created more than 25 projects across Mumbai, accounting for four million square feet and catering to more than 4000 families.The firm has recently completed and handed over its prestigious project Arkade Earth at Kanjurmarg. Arkade is a zero-debt firm and is setting up its plans to raise funds to fuel its future growth. The firm strives for a leadership position in the redevelopment segment in Mumbai real estate sector.

Image Source

Also read: NHSRCL acquires 33% land in Maharashtra for bullet train project

According to the sources, Arkade Group acquired around 2.05 acres of the land parcel from Hercules Hoists for Rs 90 crore in Mumbai’s Mulund. The company has already paid 10% of the acquisition amount to Hercules Hoists. With this acquisition, the company focuses on strengthening its presence in Mumbai’s eastern suburbs. The company also announced the acquisition of six projects, having 11,50,000 sq ft of the construction area and has invested Rs 215 crore for the same. These six projects include three plots bought based on an outright, while three redevelopment projects are located across the western suburbs of Mumbai. Moreover, these projects might generate around Rs 1,250 crore of sales revenues. Arkade has created more than 25 projects across Mumbai, accounting for four million square feet and catering to more than 4000 families.The firm has recently completed and handed over its prestigious project Arkade Earth at Kanjurmarg. Arkade is a zero-debt firm and is setting up its plans to raise funds to fuel its future growth. The firm strives for a leadership position in the redevelopment segment in Mumbai real estate sector. Image Source Also read: NHSRCL acquires 33% land in Maharashtra for bullet train project

Next Story
Infrastructure Urban

APCRDA Approves Rs 9.04 Bn to Upgrade Infrastructure in 29 Amaravati Villages

The Andhra Pradesh Capital Region Development Authority (APCRDA), chaired by Chief Minister N Chandrababu Naidu, has approved Rs 9.04 billion for addressing key infrastructure gaps in 29 villages within Amaravati’s greenfield capital area, announced Municipal Administration Minister P. Narayana at the 51st CRDA meeting.The funds will be used to upgrade critical facilities including roads, drains, drinking water supply, sewerage systems, and street lighting. A detailed assessment revealed a 30 per cent shortfall in water supply, a total absence of sewerage infrastructure, a 40 per cent defici..

Next Story
Infrastructure Transport

Cabinet Approves Phase-1B of Lucknow Metro Rail Project Worth Rs 58.01 Bn

The Union Cabinet, led by Prime Minister Narendra Modi, has approved Phase-1B of the Lucknow Metro Rail Project in Uttar Pradesh. This phase covers an 11.165 km corridor with 12 stations—7 underground and 5 elevated—extending the city’s metro network to 34 km upon completion.Phase-1B targets the dense, historic parts of Lucknow, enhancing connectivity across key commercial, healthcare, tourist, and culinary hubs. Important areas served include Aminabad, Yahiyaganj, Pandeyganj, Chowk, King George’s Medical University, and landmarks like Bara Imambara and Rumi Darwaza.This expansion prom..

Next Story
Infrastructure Transport

Major Upgrades Planned for Tamil Nadu’s National Waterways

Tamil Nadu is poised for significant infrastructure upgrades across its National Waterways (NWs), with a focus on developing jetties, cargo hubs, and cruise tourism circuits, according to the Ministry of Ports, Shipping and Waterways. These projects aim to promote sustainable inland water transport and boost regional economic activity.Key projects include the development of Buckingham Canal (part of NW-4), with jetties planned at the following locations:Mahabalipuram to Ediyur BridgeCooum River near Marina BeachPulicat LakeEnnore Port to ETPS, specifically for cargo operationsOther National Wa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?