Arkade Developers has announced plans to redevelop the Nutan Ayojan cooperative housing society in Malad West, Mumbai. The project, covering an area of 6,858.90 sq meters, is projected to generate a gross development value (GDV) of approximately Rs 740 crore. The redevelopment will include 2 and 3 BHK apartments, and the completion will provide 408 homes, with about 215 units available for sale.
- Arkade Developers plans to redevelop a co-operative housing society in Malad West.
- The project will feature a GDV of approximately Rs 740 crore.
Overview of the Redevelopment Project
The redevelopment of Nutan Ayojan in Malad West is a significant move by Arkade Developers, a prominent player in the real estate sector. This project spans an impressive 6,858.90 square meters and is expected to yield a gross development value (GDV) of around Rs 740 crore. The planned structure includes two basements, four podium parking levels, an eco-deck, and a total of 32 residential floors. This comprehensive redevelopment aims to address the growing demand for housing in this popular micro-market of Mumbai.
The project will offer a total saleable RERA carpet area of approximately 2.33 lakh square feet, featuring well-designed 2 and 3 BHK apartments. According to Amit Jain, the chairman and managing director of Arkade Developers, the company aims to capitalize on high-growth micro-markets through strategic asset acquisitions and redevelopment. This approach not only enhances the value of their land bank but also meets the increasing housing demand in rapidly developing areas like Malad West.
Key Features and Amenities
Arkade Developers’ ambitious project in Malad West is designed to provide residents with a modern living experience. The development will feature 408 homes, with around 215 units available for sale upon completion. Residents can expect a range of amenities aimed at enhancing their quality of life, including landscaped gardens, recreational areas, and state-of-the-art facilities.
The inclusion of two basements and four podium parking levels ensures that residents have ample parking space, alleviating concerns related to urban congestion. Additionally, the eco-deck integrated into the design promotes sustainable living, encouraging residents to engage with nature within an urban environment. The strategic planning of this redevelopment not only caters to the immediate housing needs but also reflects a long-term vision for sustainable urban living in Mumbai.
Future Impact on the Real Estate Market
The redevelopment of Nutan Ayojan is expected to have a significant impact on the real estate market in Malad West. As demand for housing continues to rise in Mumbai, projects like this one are pivotal in meeting the needs of urban residents.
