Arkade Developers buys 4 acre land in Mumbai for ₹165cr; site currently leased to Filmistan
Live MintNew Delhi, Jan 28 Realty firm Arkade Developers has bought 4-acre land at Goregaon West in Mumbai for ₹165 crore to develop a ₹2,000 crore luxury housing project. In a regulatory filing on Tuesday, the company said it has "completed the acquisition of a prime land parcel located in Goregaon West in the western suburbs of Mumbai from Aspen Properties Pvt Ltd and their joint venture partners, Kamanwala Housing Construction Ltd, for a total consideration of ₹165 crore". With a sprawling plot area of approximately 16,200 square metres, this acquisition is poised to unlock significant value in one of Mumbai's most sought-after locations," Arkade Developers said. Amit Jain, Chairman and Managing Director of Arkade Developers, said this land parcel holds a special place in the hearts of Mumbaikars, evoking memories of a bygone era.
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