Arkade Developers has added four cluster redevelopment projects across western Mumbai, with a combined turnover potential of around ₹5,000 crore. The projects span the suburbs of Malad, Kandivali and Borivali, adding 11.17 acres to the company's redevelopment pipeline.

The additions deepen the Mumbai-based developer's footprint in the city's western suburbs, a densely populated residential belt along the western suburban railway corridor. Cluster redevelopment involves the consolidation and rebuilding of groups of aging buildings or housing societies, a model that has become increasingly common in Mumbai, where the scarcity of vacant land makes large, newly assembled development sites rare. Under Mumbai's Development Control and Promotion Regulations (DCPR) 2034, cluster redevelopment schemes in the suburbs are eligible for a floor space index of 4, well above the base FSI of 2 that applies to standard residential construction there, allowing more built-up area on the same plot and underpinning the model's appeal to developers.

Arkade Developers focuses primarily on residential development in the Mumbai Metropolitan Region, undertaking both new construction and the redevelopment of existing buildings. The company became a publicly listed firm in September 2024, when its shares began trading on the BSE and the National Stock Exchange (NSE) following an initial public offering.

Redevelopment, including society-led and cluster projects, has emerged as one of the main channels of new housing supply in Mumbai, as developers work to unlock capacity from the city's large stock of older buildings. Listed peers such as Godrej Properties, Oberoi Realty and Macrotech Developers (Lodha) have also used redevelopment to add projects in Mumbai in recent years, underlining how central the segment has become to land acquisition in the city.

The four newly added projects extend Arkade's redevelopment pipeline across western Mumbai, with the company pegging their combined turnover potential at approximately ₹5,000 crore. That figure represents an estimate of gross sales over the full life of the projects rather than near-term revenue; cluster schemes typically progress through occupant consent, approvals and phased construction, so realization generally spans several years. As the projects advance, milestones such as municipal approvals and registration with MahaRERA, Maharashtra's real estate regulator, will indicate when each moves from pipeline to launch.

Source: CNBC-TV18