Ahmedabad-based developer Arvind SmartSpaces has entered the Mumbai Metropolitan Region (MMR) real estate by acquiring a 92-acre land parcel near Khopoli through a joint development agreement. This marks the Lalbhai Group company’s first project in the region, expanding its presence beyond Gujarat, Bengaluru, and Pune.

The project will feature MMR’s first large-scale horizontal development, complete with amenities like a golf course. The joint agreement entitles Arvind SmartSpaces to a 70.5 percent share of the estimated Rs 1,500 crore revenue, aligning with its strategy to diversify geographically and strengthen its foothold in key markets. This project to be developed jointly with the land partner Sach Developers. 

The project near Khopoli will benefit from the state government’s Mumbai 3.0 initiative. JLL acted as the land transaction advisor on this project. 

Key infrastructure developments like the Atal Setu, JNPT Port, Navi Mumbai International Airport, Virar-Alibaug Multimodal Corridor, and Mumbai-Pune-MTHL Interchange are expected to enhance connectivity and boost the area’s appeal. The company plans to further expand in Mumbai and its existing markets of Ahmedabad and Bengaluru in the coming quarters.