Arkade Group buys 1030 million plot from Bajaj group firm in Mumbai
Real Estate

Arkade Group buys 1030 million plot from Bajaj group firm in Mumbai

For slightly more than 1,030 million, the city-based builder Arkade Group, which focuses on rehabilitation, purchased a land from Hercules Hoists, a subsidiary of the Bajaj Group. On the 8,300 square metre land in Mulund (West), a suburb in eastern Mumbai, Arkade will construct a residential complex with the potential to grow to 0.5 million square feet and include 2 and 3 BHKs. According to Amit Jain, managing director of the family-owned Arkade firm, the project has a top-line potential of $600 million.

He stated that this acquisition is in addition to the 2 million square feet of ongoing construction that is taking place throughout the city's western suburbs.

In the second and third quarters of 2023, the corporation will also begin work on two further projects, with a total top-line of $8 billion. Both initiatives, an open plot development in Mulund and a society redevelopment in Vile Parle East, are anticipated to be finished by December 2026.

The 1986 establishment of the Mumbai-based real estate company, which specialises in open space redevelopment projects, saw the beginning of projects from Virar to Carmichael Road.

The company, which is debt-free and aiming for a $6 billion IPO in 2024, has so far created projects totalling 4 million square feet, with another 2 million square feet still under construction. Greenfield projects make up 3.6 million square feet of them, while redevelopment projects make up the remaining space.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

For slightly more than 1,030 million, the city-based builder Arkade Group, which focuses on rehabilitation, purchased a land from Hercules Hoists, a subsidiary of the Bajaj Group. On the 8,300 square metre land in Mulund (West), a suburb in eastern Mumbai, Arkade will construct a residential complex with the potential to grow to 0.5 million square feet and include 2 and 3 BHKs. According to Amit Jain, managing director of the family-owned Arkade firm, the project has a top-line potential of $600 million. He stated that this acquisition is in addition to the 2 million square feet of ongoing construction that is taking place throughout the city's western suburbs. In the second and third quarters of 2023, the corporation will also begin work on two further projects, with a total top-line of $8 billion. Both initiatives, an open plot development in Mulund and a society redevelopment in Vile Parle East, are anticipated to be finished by December 2026. The 1986 establishment of the Mumbai-based real estate company, which specialises in open space redevelopment projects, saw the beginning of projects from Virar to Carmichael Road. The company, which is debt-free and aiming for a $6 billion IPO in 2024, has so far created projects totalling 4 million square feet, with another 2 million square feet still under construction. Greenfield projects make up 3.6 million square feet of them, while redevelopment projects make up the remaining space.

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?