Mumbai, Jun 13 (PTI) Realty firm Arkade Developers Ltd has bought a 6.28-acre of land parcel here for Rs 172 crore to build a housing-cum-commercial project.

In a regulatory filing on Friday, the company said it has forayed into the Thane real estate market with the acquisition of a 6.28-acre freehold land parcel.

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The transaction is valued at Rs 172.48 crore including Stamp Duty, it said.

Arkade Developers will build a mixed-use project with an estimated gross development value (GDV) of Rs 2,000 crore.

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The total saleable area is 9.26 lakh sq ft.

The project launch is slated for early 2026.

Arkade Developers is one of the leading real estate firms in the country.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)