Thane, June 15, 2025 – Mumbai-based Arkade Developers has marked its strategic entry into Thane’s rapidly growing real estate market by acquiring a prime 6.28-acre freehold land parcel in Kasarvadavali, off Ghodbunder Road, Thane West. The transaction, including stamp duty, totals approximately ₹172.48 crore.
The plot, situated opposite the Sanjay Gandhi National Park, is earmarked for an ambitious mixed-use development. The project will span a Real Estate Regulatory Authority (RERA) saleable area of 9.26 lakh sq ft and carry a projected gross development value (GDV) of ₹2,000 crore. Development is slated to begin in early 2026.
Project Highlights & Connectivity
- Residential offerings: A mix of 2, 3, and 4 BHK apartments, alongside retail and commercial spaces.
- Scenic & strategic location: Offers scenic views of the Sanjay Gandhi National Park, and benefits from excellent connectivity via Ghodbunder Road and the Eastern Express Highway.
- Infrastructure catalysts: The nearby Metro Line 4 and the Thane–Borivali twin tunnel are expected to significantly enhance accessibility and drive demand.
Company Vision & Market Positioning
Amit Jain, Chairman and Managing Director of Arkade Developers, lauded the acquisition as a “significant milestone in our growth journey,” highlighting Thane’s rapidly evolving infrastructure and its emergence as a key growth hub for luxury housing.
Reflecting on the company’s FY25 performance, Jain added that Arkade had already acquired a 4-acre land parcel in Goregaon—formerly leased to Filmistan—with an impressive ₹3,000 crore GDV.
Market Context & Advisory Support
- Advisory partner: Jones Lang LaSalle (JLL) India served as the exclusive transaction advisor. Both Arkade and JLL highlighted Thane’s maturing residential catchment and growing investor interest.
- Regional real estate trends: In Q1 CY2025, Thane West witnessed 3,126 property transactions worth ₹3,787 crore, with average property rates climbing to ₹21,547 per sq ft—a rise from ₹20,029 per sq ft in Q1 CY2024.
What This Means for Thane’s Real Estate Market
Arkade’s significant land purchase underscores Thane’s rise as a compelling alternative to central Mumbai, driven by improving infrastructure, metro extensions, and elevated lifestyle offerings. As more premium developers enter Thane, competition is poised to increase, benefitting homebuyers through enhanced options and potentially slowing price escalation.
ALSO ROAD: Bengaluru Surges to 14th Spot in 2025 Global Startup Ecosystem Rankings
