New Delhi, February 16 Arkade Developers Ltd, a real estate firm, announced on Monday that it expects to generate approximately Rs 700 crore in revenue from a redevelopment project in Mumbai.
In a regulatory filing, the company stated that it has registered the "development agreement" for the "cluster redevelopment of Shree Rani Sati Nagar Co-operative Housing Society Ltd," located in Malad West.
"The project covers a total plot area of approximately 6,553 square metres and is proposed as a large-scale cluster redevelopment with an estimated Gross Development Value (which means revenue potential) of around Rs 700 crore," Arkade said.
Mumbai-based Arkade Developers has completed 31 projects with an area of over 5.5 million square feet, and more than 2 million square feet is currently under construction.
