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The transaction will give Arkade full ownership of the 4-acre land parcel in Mumbai’s Goregaon West — a site rich in cinematic history.
Following the acquisition, Arkade intends to redevelop the Filmistan land into an upscale residential enclave.
Real estate company Arkade Developers has entered into a binding agreement to acquire the iconic Filmistan Studios for approximately Rs 183 crore. The transaction will give Arkade full ownership of the 4-acre land parcel in Mumbai’s Goregaon West — a site rich in cinematic history. The deal is expected to be closed within the next month.
Twin 50-Storey Luxury Towers Planned by 2026
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: From Green Pockets to Premium Projects
Goregaon West is fast emerging as one of Mumbai’s luxury residential hotspots, thanks to its strategic location and well-developed infrastructure. With seamless access to the Western Express Highway, metro corridors, and major business districts like BKC and Andheri, the locality also benefits from green zones like Aarey Forest — 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 raise the bar for high-end living in the western suburbs.
No Regulatory Hurdles or Promoter Links
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.
Filmistan: A Storied Past, Modest Present
Incorporated in April 1943, Filmistan has played a historic 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 the move as a strategic step toward bolstering its portfolio in Mumbai’s competitive real estate market and driving future growth.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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