Arkade Developers to Invest ₹3,000 Crore in Ultra-Luxury Residential Project at Iconic Filmistan Studio Land in Goregaon West, Mumbai

A Mumbai-based real estate developer is preparing to launch one of the city's most ambitious ultra-luxury residential projects on the historic Filmistan Studio land in Goregaon West. Arkade Developers announced plans to invest ₹3,000 crore in transforming the iconic 4-acre studio plot into a premium housing enclave, with the rollout scheduled for the first quarter of FY26.

From Bollywood's Golden Era to Modern Residential Towers

The legendary Filmistan Studio, established in 1943 by filmmaker Sasadhar Mukherjee, who was the grandfather of Bollywood actress Kajol, served as the creative birthplace of numerous Hindi cinema classics. The studio produced memorable films including Paying Guest in 1957, Nastik in 1954, and Anarkali in 1953. More recently, the facility hosted the production of 2 States in 2014.

However, the once-vibrant studio has witnessed a significant decline in active film production over the past decade. In July 2025, Arkade Developers acquired the Filmistan Studio land and confirmed plans to redevelop the site into a world-class residential complex, marking the end of a cinematic era while ushering in a new architectural chapter for the area.

Premium Features of the Upcoming Development

The proposed ultra-luxury project will feature two high-rise towers, each soaring 50 storeys into the Mumbai skyline. The development is being designed as a boutique offering with spacious 3 BHK, 4 BHK, and 5 BHK apartments, along with limited-edition penthouses for the city's elite buyers.

According to sources close to the development, the project will include premium clubhouse facilities, state-of-the-art wellness amenities, panoramic views of the surrounding cityscape, and high-end finishes throughout. The developer emphasized that the homes will cater to Mumbai's affluent population, offering both exclusivity and iconic location value in Goregaon West's rapidly developing corridor.

The company stated that regulatory approvals are currently underway, with the official launch anticipated during the festive season of 2025 or by the first quarter of FY26.

₹8,000 Crore Development Pipeline Across Mumbai

The Filmistan redevelopment represents just one component of Arkade Developers' ambitious ₹8,000 crore development pipeline. Over the next financial cycle, the firm has disclosed plans to launch seven new projects across Mumbai's high-growth residential corridors.

Three of these upcoming projects will be developed on self-owned land parcels, while four will be redevelopment initiatives. The redevelopment model has gained significant traction among Mumbai developers due to the acute scarcity of available land in the city. Currently, Arkade is also executing six ongoing projects with a cumulative development value of ₹2,000 crore.

Developer Maintains Focus on Mumbai Metropolitan Region

Despite growing interest among developers in satellite cities and peripheral areas, Arkade Developers has affirmed its commitment to remain focused on the Mumbai Metropolitan Region. The company has expressed interest in pursuing additional redevelopment opportunities in suburban localities including Goregaon, Andheri, and Borivali, while also exploring land acquisition possibilities in Thane.

Simultaneously, the developer is venturing into the second-home and plotted development segment with a new project in the Neral-Karjat belt near Mumbai. This initiative will offer plots starting from ₹50 lakh and 3 BHK villas priced around ₹1 crore, targeting urban buyers seeking weekend getaway properties or long-term investment opportunities.

Setting New Benchmarks in Studio Land Transformation

Industry observers note that the Filmistan Studio redevelopment is expected to establish a significant benchmark in studio-to-residential conversions, similar to the transformation witnessed with RK Studios in Chembur, which was converted into luxury residential towers in 2019.

This transformation reflects a broader trend in Mumbai's evolving luxury housing market and land utilization patterns, where former film studios, textile mills, and industrial plots are increasingly being repurposed into residential or mixed-use developments. This approach not only ensures maximum value extraction from prime real estate but also facilitates the revitalization of legacy spaces for contemporary urban lifestyles.

Why This Development Holds Significance

The Filmistan Studio redevelopment project carries multiple dimensions of importance for Mumbai's real estate sector. With a ₹3,000 crore investment in a single site, it ranks among the largest studio redevelopment initiatives in India. The project carries high emotional and cultural resonance due to Filmistan Studio's legendary status in Indian cinema history.

The development will feature top-tier residential specifications including penthouses and club-class amenities, positioning it firmly in the ultra-luxury segment of Mumbai real estate. Its location in Goregaon West, one of Mumbai's fastest-growing residential-commercial hubs, adds significant strategic value.

Furthermore, the project reflects the rising demand for luxury vertical living in Mumbai's land-starved urban environment, where premium high-rise developments continue to attract affluent buyers seeking exclusivity and modern amenities.

Looking Ahead

Arkade Developers' initiative to transform the Filmistan Studio land into a premium residential enclave represents both a significant real estate milestone and a tribute to Mumbai's cinematic heritage. As the city continues to evolve, its landmarks are transitioning from film reels to residential towers, adapting to changing urban needs while preserving their cultural significance.

With the launch expected in FY26 and backed by a robust pipeline of ₹8,000 crore worth of future developments, Arkade is strategically positioning itself as a prominent player in Mumbai's competitive luxury housing market. The project is anticipated to attract significant interest from high-net-worth individuals seeking exclusive residences in one of Mumbai's most promising suburban corridors.

Disclaimer: This news article is based on information available from public sources and industry reports. Readers are advised to conduct their own due diligence and consult with real estate legal experts before making any property investment decisions. The details regarding project specifications, pricing, and timelines mentioned are indicative and subject to change by the developer. This article does not constitute financial or investment advice.