Arkade Developers to launch residential & commercial projects, stock up 3%

Arkade Developers share price: Shares of Arkade Developers soared up to 2.88 per cent to hit an intraday high of Rs 149.55 per share on Tuesday, October 22, 2024. 

The surge in Arkade Developers share price came after the company announced that it will launch a residential and commercial project, Arkade Rare - Bhandup, in Mumbai, on October 26.

In an exchange filing, Arkade Developers said, “We write to inform you about the forthcoming launch on October 26, 2024 of the residential and commercial project by the name ‘Arkade Rare ‐ Bhandup’, which is being developed by the Company at Bhandup West, spread across- 3-acre project with 7 towers of G+21 Storey for luxury project. 

 

The Arkade Rare project features 432 residential units and 43 commercial spaces, comprising a mix of 2 BHK and 3 BHK apartments. 

Spanning approximately 725,000 square feet, the development will be executed in a single phase with an estimated sales value of Rs 760 crore. 

Arkade Developers had acquired this 3-acre land in September 2023 for Rs 103 crore.

Arkade Rare also offers a private access road and is conveniently located near a proposed Jain Derasar. With 50 per cent of the area dedicated to open spaces, the project promises a premium lifestyle enriched with state-of-the-art amenities. 

Unique features include air-conditioned homes, a lap swimming pool, a hydrotherapy pool, a golf putting green, an indoor badminton court, a children’s sandpit, and a banquet hall, all reflecting the company’s commitment to excellence and its vision for modern living.

Situated in Bhandup West, Arkade Rare is strategically positioned to take advantage of nearby western and eastern business districts, as well as excellent transit connectivity and essential social infrastructure, including schools, hospitals, and malls.

The leisure deck is designed for multi-recreational activities, featuring facilities such as a lap swimming pool, a hydrotherapy pool, a golf putting green, an indoor badminton court, a children’s sandpit, and a banquet hall. The project boasts an exclusive design concept by the renowned international landscape architect AO Design from New Zealand, setting Arkade Rare apart from other developments.

Inside the apartments, residents will enjoy premium fittings and fixtures, with select units featuring sun decks that offer panoramic views of the city skyline. 

Amit Jain, chairman and managing director, Arkade Developers Limited said “Arkade Developers is expanding its presence in the eastern suburbs of Mumbai. With Arkade Earth in Kanjurmarg and the under-construction Arkade Nest in Mulund West, we're building a strong pipeline in this corridor. Arkade Rare in Bhandup West further solidifies our commitment to developing luxury, community living projects within the Kanjur-Bhandup-Mulund corridor. As infrastructure projects take shape and connectivity improves, Bhandup is becoming a highly sought-after location for homebuyers looking to elevate their lifestyles.”

Jain added, “Demand has risen significantly in the last few years, and we expect a further surge. At Arkade, we recognise this shift in demand for luxurious, modern homes and are committed to delivering residences that offer not only comfort and style but also the quality of life that buyers expect in these rapidly growing neighbourhoods. Arkade Rare will introduce a community-living experience, elevating the quality of life for residents. This project aligns with our 'Family First' philosophy and aims to reshape the Bhandup micromarket.”

At 11:16 AM, the stock was trading 2.6 per cent lower at Rs 141.55 per share. In comparison, BSE Sensex was trading 0.17 per cent lower at 81,013.96 levels.