Mumbai-based Arkade Developers is set to launch a luxury residential project on the historic Filmistan Studio land in Goregaon, Mumbai — a site founded by Bollywood actor Kajol’s grandfather, Sasadhar Mukherjee, more than eight decades ago. The upcoming project, which carries an estimated development potential of ₹3,000 crore, is expected to debut in the first quarter of FY26. It will feature spacious 3- and 4-BHK residences, along with exclusive penthouses, across two premium high-rise towers planned to rise over 50 storeys each.
We earlier reported, that Mumbai-based listed developer Arkade Developers Limited has signed a binding agreement to acquire the entire stake in Filmistan Pvt Ltd for ₹183 crore. The acquisition gives Arkade control of a 4-acre land parcel located on SV Road in Goregaon West, historically known as the Filmistan Studios site. The company has announced plans to develop a large-scale residential project on the land, with a projected Gross Development Value (GDV) of ₹3,000 crore.
The launch forms part of Arkade Developers’ larger expansion plan, which includes seven projects valued at nearly ₹8,000 crore over the next development cycle. The company, which already has six ongoing projects worth around ₹2,000 crore, is increasing its focus on high-value residential and redevelopment ventures across the Mumbai Metropolitan Region (MMR).
“We currently have six ongoing projects averaging around ₹350 crore each. In the upcoming cycle, we expect to launch seven projects with a total potential exceeding ₹8,000 crore,” said Amit Jain, Chairman and Managing Director of Arkade Developers. “Out of these, three are land projects where we own the land, and four are redevelopment projects,” he added.
According to the company, the luxury residential project on the Filmistan Studio land is targeted for launch in early FY26, subject to necessary approvals. “Our target is early next financial year, around Q1FY26. If not by then, the launch may take place by the festive season,” Jain said.
He confirmed that the old studio structures have already been demolished, paving the way for construction work to begin once approvals are in place.
Spread across nearly 4 acres, the Filmistan site once served as one of Bollywood’s most iconic production hubs. Founded in 1943, the studio produced and hosted several classic films such as Anarkali (1953), Nastik (1954), and Paying Guest (1957). In more recent years, it was also a filming location for 2 States (2014).
Arkade Developers had announced its acquisition of the land earlier in 2025, revealing plans to convert the heritage site into a high-end residential development that pays tribute to its cinematic legacy while introducing a new benchmark in luxury living.
The Filmistan project is part of Arkade Developers’ broader strategy to strengthen its presence across the Mumbai Metropolitan Region. The company plans to continue focusing on redevelopment and new residential projects in the western and central suburbs, while also exploring opportunities in Thane. “We are open to taking up more redevelopment projects in suburban Mumbai and are also evaluating prospects in Thane,” the company said in a statement.
In August 2025, Arkade Developers announced its entry into the second-home and plotted development segment with a large plots and villas project in the Neral–Karjat belt, offering plots starting at ₹50 lakh and 3BHK villas priced around ₹1 crore. The company is scouting for 80–100-acre land parcels for future expansion in this category.
The redevelopment of Filmistan Studio represents both a nod to Mumbai’s cinematic past and a step towards its modern skyline. The new project will blend heritage elements with contemporary architectural design, aiming to deliver one of Goregaon’s most prestigious addresses.
Once operational, the project is expected to attract demand from luxury homebuyers seeking premium residences in a location with both cultural legacy and connectivity advantages.
With the planned rollout of seven new developments worth ₹8,000 crore, Arkade Developers is positioning itself among Mumbai’s active mid-sized luxury real estate players, with a sharp focus on design-led redevelopment, construction quality, and market-driven pricing.
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