Mumbai – Mumbai-based Arkade Developers has acquired the historic Filmistan Studios property in Goregaon West for ₹182.95 crore, marking one of the most high-profile real estate deals in recent years. Located on a 4-acre plot along SV Road, the site will be redeveloped into a luxury residential project featuring two 50-storey towers. The development is expected to have a gross development value (GDV) of approximately ₹3,000 crore.
Established in 1943, Filmistan Studios has been a symbolic part of Mumbai’s cinematic heritage. Over the decades, the studio hosted countless film productions but has seen a significant decline in activity in recent years. With this acquisition, Arkade Developers aims to preserve the legacy of the space while transitioning it into a modern landmark. The proposed residential towers will offer expansive 3, 4, and 5 BHK apartments, along with penthouses designed for premium buyers in the city.
The developer plans to launch the project in early 2026. This acquisition aligns with a broader trend in Mumbai, where aging film studios and industrial lands are being repurposed into high-value residential developments. Similar transformations have taken place at RK Studios in Chembur and Kamalistan Studios in Jogeshwari.
Goregaon West has emerged as a lucrative real estate hotspot in recent years. Its strategic location offers seamless connectivity to business districts like BKC and Andheri, and it’s close to key infrastructure such as the Western Express Highway and Mumbai Metro lines. The area also boasts reputed schools, hospitals, malls, and green zones like Aarey Forest, making it attractive to both investors and homebuyers.
The deal has also created positive market sentiment, with Arkade’s stock rising nearly 4.5% following the announcement. Industry analysts see the redevelopment of Filmistan as a strategic win for the company, especially given the rising demand for premium housing in Mumbai’s western suburbs.
Arkade Developers has delivered over 31 projects comprising 5.5 million square feet and is currently working on more than 2 million square feet of active developments. Apart from the Filmistan project, the company is also involved in the redevelopment of Bangur Nagar, which is estimated to have a GDV of ₹350 crore.
While Filmistan Pvt Ltd recorded modest financials in FY24—with a turnover of just ₹18.87 lakh and net worth of ₹5.54 lakh—the value of the land and its redevelopment potential far outweighed its operational earnings. For Arkade Developers, this move not only secures a premium location but also positions the company as a key player in Mumbai’s evolving luxury real estate landscape.
With this landmark acquisition, Arkade is poised to turn a piece of Bollywood history into a future-ready residential destination—where legacy meets luxury.
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