Arkade to Develop ₹3,000 Cr Housing Project on Iconic Filmistan Land in Goregaon
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 project is slated for launch in the calendar year 2026 and will feature two 50-storey residential towers. According to the company’s statement, the upcoming development will comprise 3, 4, and 5 BHK apartments along with penthouses, targeting high-end homebuyers in Mumbai’s western suburbs.
Filmistan Studios, once a key site in the city’s film production history, has remained largely underutilized in recent years. The transaction marks a shift in the site’s land use from film production to residential development. Arkade’s entry into the location reflects a broader trend of real estate development on legacy land parcels in Mumbai.
Speaking on the announcement, Amit Jain, Chairman and Managing Director of Arkade Developers Ltd, described the Filmistan land parcel as a key component of the company’s expansion strategy in Mumbai’s western suburbs. He noted that the planned transformation of the site marks an important step in Arkade’s entry into the high-end residential segment and reflects the firm’s broader commitment to delivering well-planned and enduring housing developments.
He added that Arkade is planning multiple launches in early 2026 as part of its western suburb strategy and highlighted the group's track record in quality and timely delivery.
The Goregaon West location has gained traction as a residential hub over the past decade due to improved infrastructure, transit connectivity, and social amenities. The suburb offers access to the Western Express Highway, several metro lines, and important commercial districts such as Mindspace, Andheri, and Bandra-Kurla Complex (BKC).
Local real estate consultants said that average apartment prices in Goregaon West range from ₹30,000 to ₹40,000 per square foot, depending on floor height, project configuration, and developer brand. With Arkade planning to introduce premium units and high-rise towers, the new project is expected to be priced at the upper end of the prevailing market range.
The redevelopment of Filmistan Studios is also likely to affect nearby land valuations. With increasing pressure on land availability in the city’s core areas, developers have been actively acquiring large parcels in suburbs like Goregaon, Malad, and Kandivali for residential use.
This transaction follows a larger trend where listed and institutional-grade developers are acquiring legacy properties or smaller firms through share purchase agreements, rather than just outright land deals. The Filmistan transaction gives Arkade complete control over the holding company that owns the land, enabling faster approvals and integrated project planning.
The project’s planning and design phases are expected to begin later this year, with a formal launch scheduled for 2026. Approvals for construction and environmental clearances are likely to be sought over the coming months. The company has not disclosed whether the development will include retail or commercial components in addition to residential units.
With this acquisition, Arkade strengthens its presence in Western Mumbai’s redevelopment and luxury housing segment. The company is currently executing multiple projects across the Mumbai Metropolitan Region (MMR), and the Filmistan site is expected to be one of its largest projects in terms of development value and scale.
