Arkade Developers Acquires Filmistan Studios for Rs 183 Crore, Plans Ultra-Luxury Residential Complex
Arkade Developers has acquired the iconic Filmistan Studios in Mumbai’s Goregaon West for Rs 183 crore, planning to redevelop the 4-acre land into a luxury residential project with twin 50-storey towers.
Real EstateLuxury ResidentialArkade DevelopersFilmistan StudiosGoregaonReal Estate MumbaiJul 05, 2025
Following the acquisition, Arkade intends to redevelop the Filmistan land into an upscale residential enclave. The developer aims to launch a luxury project featuring expansive 3, 4, and 5 BHK apartments, along with exclusive penthouses housed in two 50-storey towers. The project is projected to deliver a Gross Development Value (GDV) of Rs 3,000 crore.
Goregaon West is rapidly becoming one of Mumbai’s luxury residential hotspots, thanks to its strategic location and well-developed infrastructure. The locality offers seamless access to the Western Express Highway, metro corridors, and major business districts like BKC and Andheri. Additionally, it benefits from green zones like Aarey Forest, providing a rare mix of urban connectivity and natural serenity.
“With a focused strategy across the western suburbs, we are actively expanding our footprint in this region with a couple of launches planned in early 2026,” said Arkade Chairman and Managing Director, Amit Jain. He added that the upcoming project will set new standards for high-end living in the western suburbs.
Arkade clarified that the transaction is entirely independent, with no connection to its promoter group or related entities. The acquisition does not qualify as a related-party deal and, since it requires no regulatory or government approvals, the process is expected to move forward smoothly.
Incorporated in April 1943, Filmistan has played a significant role in India’s film industry, contributing to movie production, distribution, and exhibition. Despite its iconic reputation, the company’s recent financials reflect a modest scale. For FY24, it recorded a turnover of just Rs 18.87 lakh and a net worth of Rs 5.54 lakh. Turnovers for the previous two years stood at Rs 11.25 lakh and Rs 6.83 lakh, respectively.
Post-acquisition, Filmistan will become a wholly owned subsidiary of Arkade Developers. The company sees this move as a strategic step toward bolstering its portfolio in Mumbai’s competitive real estate market and driving future growth.
Arkade Developers is a leading real estate developer in Mumbai, known for its commitment to quality and innovation. The company has a strong track record of delivering premium residential and commercial projects across the city. With this acquisition, Arkade aims to further solidify its position in the luxury real estate segment and cater to the growing demand for high-end living spaces in Mumbai’s western suburbs.
Frequently Asked Questions
What is the total value of the project planned by Arkade Developers?
The project planned by Arkade Developers on the acquired Filmistan Studios land is projected to deliver a Gross Development Value (GDV) of Rs 3,000 crore.
How many towers are planned in the luxury residential project?
The luxury residential project will feature two 50-storey towers.
What is the strategic significance of Goregaon West in the real estate market?
Goregaon West is rapidly becoming a luxury residential hotspot due to its strategic location, well-developed infrastructure, and access to major business districts and green zones like Aarey Forest.
What is the financial status of Filmistan Studios in recent years?
For FY24, Filmistan Studios recorded a turnover of Rs 18.87 lakh and a net worth of Rs 5.54 lakh. Turnovers for the previous two years were Rs 11.25 lakh and Rs 6.83 lakh, respectively.
When is the expected completion of the luxury residential project?
The luxury residential project is expected to be launched in early 2026, with a focus on delivering high-end living spaces in Mumbai’s western suburbs.
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