Arkade Developers Acquires Filmistan Studios for Rs 183 Crore to Develop Luxury Homes in Goregaon
Arkade Developers has acquired the historic Filmistan Studios in Goregaon West for Rs 183 crore, planning to transform the four-acre land into a premium residential community with ultra-luxury towers. The project, expected to debut in 2026, aims to redefine Goregaon’s skyline and offer residents a blend of urban connectivity and natural serenity.
Real EstateLuxury ApartmentsGoregaonMumbai Property MarketPremium Residential TowersReal Estate MumbaiJul 05, 2025
Filmistan Studios, established by industry stalwarts including Sasadhar Mukherjee and Ashok Kumar, was once a hub for movie shoots, television serials, and commercial productions. Over the decades, it became synonymous with the glamour and creativity of Mumbai’s film industry. However, in recent years, the studio’s operations had dwindled, with annual turnovers falling to modest levels and the site’s commercial potential remaining largely untapped.
Ultra-Luxury Towers to Redefine Goregaon’s Skyline:
Following the completion of the transaction, Arkade Developers has revealed intentions to turn the Filmistan property into an exclusive residential community. In addition to luxurious penthouses, the forthcoming building will have two impressive 50-story towers with spacious 3, 4, and 5 BHK homes. The development is expected to provide a Gross Development Value (GDV) of Rs 3,000 crore and is tentatively scheduled for debut in 2026, making it one of Western Mumbai’s most ambitious premium housing projects.
Amit Jain, Chairman and Managing Director of Arkade Developers, emphasized the emotional and legacy significance of the Filmistan site. He described the project as more than just a premium address, promising a thoughtfully curated lifestyle experience for a discerning clientele. Jain emphasized Arkade’s dedication to excellence in design, timely delivery, and quality, adding that the company’s entry into the ultra-luxury market would be significantly impacted by the conversion of Filmistan Studios.
The project’s location in Goregaon West offers residents seamless access to the Western Express Highway, metro corridors, and major business districts such as BKC and Andheri. The area’s proximity to green spaces like Aarey Forest adds to its appeal, combining urban connectivity with natural serenity—a rare combination in Mumbai’s property market.
Independent Transaction with Clear Regulatory Path:
Arkade Developers has clarified that the Filmistan acquisition is an entirely independent transaction, with no links to its promoter group or related entities. The deal does not qualify as a related-party transaction and requires no additional regulatory or government approvals, ensuring a smooth and expedited process. Post-acquisition, Filmistan will become a wholly owned subsidiary of Arkade Developers, further strengthening the company’s portfolio in Mumbai’s competitive real estate sector.
The acquisition also reflects Arkade’s broader strategy of expanding its footprint across Mumbai’s western suburbs. The company has several launches planned for early 2026, with the Filmistan redevelopment set to become a flagship project that raises the bar for high-end living in the region.
Honoring Filmistan’s Legacy While Shaping Mumbai’s Future:
Filmistan Studios’ rich history is deeply woven into the fabric of Indian cinema. Founded by visionaries who left Bombay Talkies to create a new center for film production, the studio was for decades a preferred location for filmmakers, actors, and technicians. Its sound stages and outdoor sets hosted countless Bollywood classics, and its legacy continues to evoke nostalgia among industry veterans and movie lovers alike.
Despite its illustrious past, Filmistan’s recent financials revealed a much smaller scale of operations, with a turnover of just Rs 18.87 lakh in FY24 and a net worth of Rs 5.54 lakh. The sale to Arkade Developers represents a new chapter for the site, one that seeks to honor its cinematic heritage while embracing the demands of a rapidly evolving city.
As Arkade prepares to break ground on its luxury towers, the redevelopment of Filmistan Studios stands as a testament to Mumbai’s ability to reinvent its landmarks for future generations. The project promises not only to deliver world-class residences but also to preserve the spirit of a location that has contributed so much to the city’s cultural identity. For Goregaon, and for Mumbai as a whole, the transformation of Filmistan marks both an end and a new beginning—one that blends history, luxury, and urban aspiration.
Frequently Asked Questions
What is the significance of the Filmistan Studios acquisition by Arkade Developers?
The acquisition of Filmistan Studios by Arkade Developers for Rs 183 crore is significant as it marks one of the most important real estate transactions in Mumbai’s recent history. It involves transforming a historic site into a premium residential community with ultra-luxury towers, which is expected to redefine Goregaon’s skyline and offer a blend of urban connectivity and natural serenity.
What are the plans for the Filmistan Studios site after the acquisition?
Arkade Developers plans to develop the Filmistan Studios site into an exclusive residential community featuring two 50-story towers with spacious 3, 4, and 5 BHK homes, along with luxurious penthouses. The project is expected to have a Gross Development Value (GDV) of Rs 3,000 crore and is scheduled to debut in 2026.
How will the project impact the local area of Goregaon West?
The project will significantly enhance the local area of Goregaon West by offering residents seamless access to major infrastructure like the Western Express Highway, metro corridors, and business districts such as BKC and Andheri. The area’s proximity to green spaces like Aarey Forest will also add to its appeal, combining urban connectivity with natural serenity.
What is the historical importance of Filmistan Studios?
Filmistan Studios, founded in 1943 by industry stalwarts like Sasadhar Mukherjee and Ashok Kumar, played a pivotal role in India’s cinematic history. It served as a preferred location for numerous Bollywood classics and was a hub for film shoots, television serials, and commercial productions. Its legacy continues to evoke nostalgia among industry veterans and movie lovers.
How does this acquisition fit into Arkade Developers' broader strategy?
This acquisition aligns with Arkade Developers' strategy of expanding its footprint across Mumbai’s western suburbs. The company has several launches planned for early 2026, and the Filmistan redevelopment is set to become a flagship project that raises the bar for high-end living in the region. The project also reflects Arkade’s commitment to excellence in design, timely delivery, and quality.
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