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Arkade Developers Ltd has acquired Filmistan Pvt Ltd, the corporate entity owning the landmark 4-acre land parcel known as Filmistan Studios, situated on SV Road in Goregaon West, Mumbai. The acquisition, completed for a total investment of INR 183 crore, will allow the company to develop a premium residential project with an estimated Gross Development Value (GDV) of INR 3,000 crore. The company announced that it has entered into a binding agreement to purchase 100 percent of Filmistan Pvt Ltd through a Share Purchase Agreement.
Arkade Developers Ltd has announced the acquisition of Filmistan Pvt Ltd, the company that holds ownership of the historic 4-acre land parcel popularly known as Filmistan Studios in Goregaon West, Mumbai. The property, located prominently on SV Road, has been a recognisable landmark in the area for decades. The acquisition, valued at INR 183 crore, will enable Arkade to initiate a large-scale premium residential development on the site. Advertisement
The board of Arkade Developers approved the execution of a Share Purchase Agreement (SPA) to acquire 100 percent of the equity shares in Filmistan Pvt Ltd. This transaction structure ensures that Arkade now directly owns the land asset by way of complete control over the entity that held the land title.
In its regulatory filing, the company stated that the planned development on the Filmistan site is expected to generate a Gross Development Value (GDV) of INR 3,000 crore. Representatives from Arkade noted that the project is envisioned as a premium housing enclave and is set to become a significant landmark in the western suburbs of Mumbai.
The land parcel's prominence stems not only from its size and location, but also from its long-standing association with the Indian film industry. Filmistan Studios had once been an active production hub, contributing to Mumbai's cinematic legacy. The site's redevelopment into residential space marks a shift in land use while tapping into the area's strong housing demand and established infrastructure.
Arkade Developers, which has already delivered over 5.5 million square feet of real estate, has an additional 2 million square feet currently under construction. The firm has been steadily expanding its portfolio across Mumbai, with a focus on quality residential offerings in well-connected neighbourhoods.
Over the past few years, Goregaon West has evolved into a key real estate destination, driven by its proximity to commercial hubs, connectivity via the Western Express Highway, and access to social infrastructure. Developments on heritage plots such as Filmistan Studios are increasingly becoming rare due to land scarcity, making this acquisition particularly strategic for Arkade.
Source - PTI
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