Arkade Developers to buy 3.54-acre Bhandup West land for ₹148 crore

Arkade Developers has signed an MoU to acquire Woollen and Textile Industries Ltd, giving it ownership of a 3.54-acre land parcel in Bhandup West for Rs 148 crore

Real estate developer Arkade Developers is set to acquire a 3.54-acre (14,363.60 sq m) land parcel in Bhandup West, Mumbai Metropolitan Region (MMR), for Rs 148 crore.

 

The company has signed a memorandum of understanding (MoU) to acquire 100 per cent shareholding in Woollen and Textile Industries Ltd, which owns the land. Arkade did not disclose the purpose of the acquisition or the revenue potential from the planned development.

 

Amit Jain, chairperson and managing director, Arkade Developers, said: “This proposed acquisition underlines Arkade Developers’ vision of creating value-driven developments at strategic locations. With our legacy of trust, timely delivery and quality construction, we look forward to unlocking the potential of this land parcel and contributing meaningfully to urban transformation.”

 

According to Square Yards Data Intelligence, Bhandup West recorded 397 property transactions in the second quarter of the calendar year 2025 (Q2 2025), with a gross sales value of Rs 357 crore. The average property rate in Q2 2025 stood at Rs 23,203 per sq ft, up from Rs 22,033 in Q2 2024. Rental rates in the area averaged Rs 59.6 per sq ft in the quarter.

 

The latest acquisition follows a string of recent land deals by Arkade. In July, it signed a binding agreement to acquire Filmistan Studios’ four-acre land in Goregaon, Mumbai, for Rs 183 crore, where it plans to develop a residential project with a gross development value (GDV) of Rs 3,000 crore.

 

In June, Arkade secured redevelopment rights for a society in Bangur Nagar, Goregaon West, with a revenue potential of Rs 350 crore. The society covers 1.1 acres, offering 86,000 sq ft of saleable area. In the same month, the company bought a 6.28-acre freehold land parcel in Thane for Rs 172.48 crore, including stamp duty, for a mixed-use project with a GDV of Rs 2,000 crore.