Arkade Developer Acquires Filmistan for Rs 183 Crore Luxury Project in Goregaon

Mumbai-based Arkade Developers has formally acquired the iconic Filmistan Studios land parcel in Goregaon West in a deal valued at ₹183 crore, setting the stage for one of the most high-profile residential redevelopment projects in Western Mumbai. The real estate company entered into a binding agreement to acquire the entire entity that owns the historic 4-acre plot on SV Road, marking a strategic leap into the uber-luxury housing segment.

According to senior executives from the company, the newly acquired parcel will be transformed into a premium residential development featuring two architecturally striking 50-storey towers. These towers will house 3, 4, and 5 BHK residences along with a limited number of bespoke penthouses. The project, expected to launch in calendar year 2026, is estimated to carry a gross development value (GDV) of ₹3,000 crore, placing it among the city’s most anticipated residential offerings. Industry experts note that the location of the Filmistan property in Goregaon West offers Arkade strategic leverage due to its proximity to the Western Express Highway, metro lines, and major arterial roads. Furthermore, the neighbourhood is well integrated with Mumbai’s commercial hubs such as Andheri, BKC, and Mindspace, making it a coveted address for both end-users and investors. The area also boasts robust social infrastructure including hospitals, reputed educational institutions, retail centres, and green spaces such as Aarey Colony.

The transaction and proposed development are being viewed as a turning point not just for Arkade Developers, but for the Goregaon real estate corridor as a whole. The move signals a broader shift in Mumbai’s real estate dynamics, where legacy industrial or entertainment-use plots are being repurposed for high-end housing amid rising demand and constrained land availability. Officials associated with the project explained that the Filmistan acquisition has been structured as a corporate transaction with Arkade acquiring the holding company that owns the land. This strategy not only simplifies land title complexities but also accelerates the clearance and approval process for the upcoming development. Senior company representatives stated that Arkade is committed to retaining the legacy value of the site while integrating modern design sensibilities. The company is currently engaging with leading architects and planners to curate a development that blends history with contemporary luxury. “This is not just a real estate transaction; it is a legacy redevelopment. The Filmistan name carries emotional weight in Mumbai’s cultural memory. Our goal is to honour that while creating a residential experience that is exceptional,” said one official.

Real estate analysts tracking Mumbai’s western suburbs view this as a significant play in the segment of luxury vertical living. With buyer preferences increasingly shifting towards branded, amenitised, and well-located properties, developers are now leaning on landmark projects with lifestyle-driven offerings to differentiate themselves in a saturated market. The Filmistan development is expected to offer a comprehensive lifestyle ecosystem including wellness amenities, concierge services, sky lounges, landscaped open spaces, and sustainability features. Arkade Developers is reportedly pursuing green building certifications and smart home integrations to align the project with next-gen living standards and environmental compliance. The real estate firm has also revealed plans to expand its presence in Mumbai’s western corridor. The Filmistan project is part of a broader strategy that includes multiple launches in the coming years focused on delivering high-value urban living across premium locations.

Goregaon, once viewed primarily as a mid-segment residential suburb, has undergone rapid transformation over the past decade. Fuelled by metro rail development, commercial growth, and civic upgrades, the area has emerged as a hotspot for high-rise luxury developments. The arrival of a marquee project like Filmistan’s redevelopment is expected to catalyse further interest and possibly uplift capital values across the neighbourhood. According to senior market observers, the timing of the acquisition is also favourable. With Maharashtra’s stamp duty stabilisation and renewed homebuyer sentiment in metropolitan markets, developers are strategically positioning themselves for launches aimed at the premium end of the spectrum. Arkade’s decision to invest ₹183 crore into the acquisition signals long-term confidence in Mumbai’s real estate fundamentals.

The transformation of Filmistan also feeds into the larger narrative of urban renewal in Mumbai. As the city grapples with space constraints, ageing infrastructure, and a growing aspirational population, legacy plots are being eyed as key drivers of vertical urbanisation and lifestyle-led housing. Arkade Developers’ foray into the redevelopment of Filmistan is more than just a business decision. It represents a symbolic shift in how Mumbai reconciles its cinematic past with its aspirational urban future. With the city’s skyline set to change once again, the real question is whether such landmark redevelopments can redefine not just real estate value, but also urban identity.

The project is currently in the design finalisation and pre-approval stage. Launch activities are expected to commence in early 2026, pending regulatory clearances. As anticipation builds, market analysts will be closely watching the project’s execution timelines, sales velocity, and pricing strategy, all of which will likely set new benchmarks for Mumbai’s high-end housing market.

Arkade Developer Acquires Filmistan for Rs 183 Crore Luxury Project in Goregaon