Arkade Developers purchased 4 acres of land at Mumbai at a price of 165Cr; the website is currently rented to a cinema

New Delhi, January 28th (PTI) real estate company Arkade developer purchased 4 acres of land at the Goregaon West in Mumbai Bleak165 million development Bleak200 billion luxury housing projects.

The land is currently leased to the movie Sterest Tampel Co., Ltd.

The company stated in a regulatory document on Tuesday that it has acquired from Aspen Properties PVT LTD and its joint venture partner Kamanwala Housing Construction LTD. Bleak165 million “.

The project will foresee modern luxury development projects, with an area of ​​about 500,000 square feet available. The estimated income is BleakIt adds to 200 million.

“The acquisition of the property is currently the location of a long -established studio, with a film meaning heritage. The huge plot area is about 16,200 square meters (4 acres). The important value of unlocking is in the place, “Arkade developers said.

Amit Jain, Chairman and Managing Director of ARKADE developers, said that the land is wrapped in Mumbaikars’ hearts to occupy a special location, which has aroused people’s memories of the past era.

“In the last few primitive plots in the western Mumbai, it provides a unique opportunity to make a milestone development. This project reflects our commitment to provide the extraordinary life experience with modern city people. At the same time Tribute to our rich heritage, “he said.

Jain said that the strategic location of the website, coupled with the connection between key business hubs, educational institutions and social infrastructure, making it an attractive investment.

The company has completed 31 projects, covering 5.5 million square feet regions. The area of ​​more than 2 million square feet is under development.