Mumbai’s iconic Filmistan Studios, a symbol of the city’s film heritage, is set to undergo a major transformation. Arkade Developers, a prominent Mumbai-based real estate developer, has announced its plans to redevelop this historical property into ultra-luxury residential apartments. In a deal valued at ₹183 crore, Arkade Developers has acquired the entire stake in Filmistan Pvt Ltd and aims to create a luxurious residential project with an estimated Gross Development Value (GDV) of ₹3,000 crore. Slated for a launch in 2026, this project will be a game-changer for the real estate market in Goregaon West, positioning it as one of Mumbai’s most exclusive residential destinations.
Redevelopment Plans for Filmistan Studios
Arkade Developers plans to turn the 4-acre land parcel in Goregaon West, Mumbai, into a landmark luxury development. The project will feature spacious 3, 4, and 5 BHK residences, along with exclusive penthouses, spread across two 50-storey high-rise towers. These luxury homes will cater to high-net-worth individuals and offer an unparalleled living experience.
- Project Features:
- 3, 4, and 5 BHK apartments
- Exclusive penthouses
- Two 50-storey high-rise towers
- Gross Development Value (GDV): ₹3,000 crore
- Expected launch in 2026
Amit Jain, Chairman and Managing Director of Arkade Developers, emphasized the significance of the Filmistan Studios site. “Filmistan Studios holds immense emotional and legacy significance for Mumbai, and we are privileged to be entrusted with shaping its next chapter,” he said. The development promises not only to offer a premium address but also a thoughtfully curated lifestyle for the city’s most discerning residents.
Strategic Location of the Project
Located on SV Road in Goregaon West, Filmistan Studios is in one of Mumbai’s most well-connected and rapidly developing residential corridors. The area enjoys proximity to major commercial hubs like Mindspace, BKC, Andheri, and Goregaon, as well as excellent connectivity to the Western Express Highway and metro lines. The development’s location offers easy access to essential amenities and recreational spaces.
Key Connectivity Highlights:
- Proximity to Western Express Highway
- Well-connected via metro lines
- Access to commercial hubs like Mindspace, BKC, Andheri, etc.
Additionally, Goregaon boasts excellent social infrastructure, including renowned schools, hospitals, shopping centres, malls, and entertainment hubs. Expansive green spaces like Aarey Forest further enhance the area’s appeal.
The Real Estate Boom in Goregaon West
Goregaon West is rapidly becoming one of Mumbai’s most sought-after locations for real estate investment. The area has seen a surge in both residential and commercial developments, making it a promising area for future growth. Local brokers report that the average price per square foot in Goregaon West ranges from ₹30,000 to ₹40,000, depending on various factors.
Real Estate Trends in Goregaon West:
- Rapid transformation into a key residential corridor
- Average property price: ₹30,000 to ₹40,000 per sq ft
- High demand for premium properties due to excellent connectivity and infrastructure
Quotes from Arkade Developers
Amit Jain, Chairman and Managing Director of Arkade Developers, shared his excitement about the project’s potential:
“At Arkade Developers, we are not just creating homes; we are crafting a legacy that reflects the dynamic aspirations of our ever-evolving city.”
He further added, “Our track record across the MMR stands as a testament to our commitment to quality, timely delivery, and design excellence. The upcoming transformation of the iconic Filmistan Studios will be a pivotal moment in our journey.”
Summary Table
| Project Detail | Description |
|---|---|
| Developer | Arkade Developers Ltd |
| Location | SV Road, Goregaon West, Mumbai |
| Total Land Area | 4 acres |
| Project Type | Ultra-luxury residential apartments |
| Key Features | 3, 4, 5 BHK apartments, penthouses, 50-storey towers |
| Gross Development Value (GDV) | ₹3,000 crore |
| Expected Launch | 2026 |
| Average Price per Sq Ft | ₹30,000 to ₹40,000 |
FAQ Section
1. What is the expected launch date for the Filmistan Studios redevelopment project?
The project is scheduled for a tentative launch in 2026.
2. What types of apartments will be available in the Filmistan redevelopment?
The project will feature 3, 4, and 5 BHK apartments, along with exclusive penthouses.
3. What is the Gross Development Value (GDV) of the project?
The GDV is projected to be ₹3,000 crore.
4. Why is the Filmistan Studios redevelopment significant?
The redevelopment of Filmistan Studios is significant due to its historical legacy and iconic status in Mumbai. It will also provide a much-needed addition to the luxury housing segment in Western Mumbai.
5. What is the average price per square foot in Goregaon West?
The average price per square foot in Goregaon West is between ₹30,000 to ₹40,000, depending on various factors.