Arkade Developers to Redevelop Iconic Filmistan Studios into ₹3,000 Cr Luxury Project

Mumbai-based real estate company Arkade Developers has announced a major redevelopment project at the legendary Filmistan Studios in Goregaon (West). The studio, once a hub of Bollywood in the 1940s–60s, is making way for two 50-storey luxury towers. Key Project Details: • Location: 4-acre Filmistan Studios plot, Goregaon (W) • Deal Value: ₹183 crore for land acquisition • Gross Development Value (GDV): ₹3,000 crore • Launch Timeline: 2026 • Project Plan: Two high-rise towers with 3, 4, and 5 BHK luxury apartments Background: Filmistan was founded by film legends like Sashadhar Mukherjee and Ashok Kumar and gave rise to many top names in cinema. However, over time, film production stopped, and the studios were mostly used for ad shoots and TV sets. This is the third major film studio to be converted into real estate: • RK Studios ➝ Redeveloped by Godrej Properties • Kamalistan Studios ➝ Being redeveloped by RMZ and CPPIB Stock Market View: Arkade Developers is a listed company, and this project could be highly positive for its stock over the medium to long term: • Strong GDV: ₹3,000 crore project adds significant value to its future revenue pipeline • Premium Location: Goregaon is a real estate hotspot; high demand expected for luxury units • Brand Visibility: Project on an iconic site adds emotional and historical value to the brand • Investor Sentiment: Strategic land acquisitions with cultural significance tend to boost investor confidence If executed efficiently, the Filmistan redevelopment could strengthen Arkade’s market position, improve its financial visibility, and act as a stock catalyst in upcoming quarters.