Arkade Developers Snaps Up Filmistan Studios for Rs. 183
On July 3, Arkade Developers Limited, a Mumbai-based real estate firm, announced a significant acquisition of Filmistan Pvt Ltd for ₹183 crore. This strategic move will enable Arkade to transform the iconic 4-acre site on SV Road in Goregaon West, known as Filmistan Studios, into a luxury residential project. With a projected gross development value of ₹3,000 crore, the new development is set to launch in 2026, featuring high-end apartments and penthouses.
Details of the Acquisition
Arkade Developers Limited has officially entered into a binding agreement to acquire a complete stake in Filmistan Pvt Ltd. This acquisition marks a pivotal moment for the company, allowing it to develop a prime piece of real estate in Goregaon West. The site, recognized for its historical significance as Filmistan Studios, spans 4 acres and is strategically located on SV Road. The firm plans to leverage this location to create a luxury residential project that caters to the growing demand for high-end housing in Mumbai.
Project Overview and Features
The upcoming project is tentatively scheduled for launch in 2026 and aims to redefine luxury living in the area. Arkade Developers plans to construct two impressive high-rise towers, each soaring 50 stories high. The development will include spacious 3, 4, and 5 BHK apartments, along with exclusive penthouses designed to offer unparalleled living experiences. With an estimated gross development value of ₹3,000 crore, this project is poised to become a landmark in premium housing within Western Mumbai.
Goregaon’s Growing Appeal
Goregaon has rapidly emerged as one of Mumbai’s most desirable residential neighborhoods. Its strategic location provides excellent connectivity to key commercial hubs, including Mindspace, BKC, and Andheri, thanks to its proximity to the Western Express Highway and metro lines. This connectivity enhances the suburb’s appeal to potential residents and investors alike. Additionally, Goregaon boasts a robust social infrastructure, featuring reputable schools, hospitals, shopping centers, and entertainment venues, as well as expansive green spaces like Aarey Forest.
Market Insights
Local real estate brokers have reported that the average price per square foot for apartments in Goregaon West ranges between ₹30,000 and ₹40,000. This price variation is influenced by several factors, including the specific location within the suburb and the amenities offered. As demand for luxury housing continues to rise, Arkade Developers’ new project is expected to attract significant interest from homebuyers looking for upscale living options in this thriving area of Mumbai.
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