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Arkade Developers Buys Filmistan Studios for ₹183 Crore, Unveils ₹3,000 Crore Luxury Project in Goregaon
It was on July 3 when we heard about the buzz around Arkade Developers Limited. It is a Mumbai-based publicly listed real estate firm, announced it has entered into a binding agreement to acquire a 100% stake in Filmistan Pvt Ltd for Rs. 183 crore. This strategic acquisition will enable Arkade to develop a prestigious 4-acre land parcel located on SV Road in Goregaon West, commonly recognized as Filmistan Studios.
Project Details
Arkade Developers plans to launch an ultra-luxury residential project on this site, with a projected Gross Development Value (GDV) of Rs. 3,000 crores. Tentatively scheduled for launch in 2026, the development will feature spacious 3, 4, and 5 BHK apartments, along with exclusive penthouses, all housed within two impressive 50-storey towers. This project is poised to set a new benchmark for premium housing in Western Mumbai.
Strategic Location
According to the company, Goregaon has rapidly emerged as one of Mumbai’s most promising residential areas, thanks to its strategic location and excellent connectivity. Residents will enjoy close access to the Western Express Highway, metro lines, and major arterial roads, facilitating easy commutes to key commercial hubs such as Mindspace, BKC, Goregaon, and Andheri.
Community and Amenities
Beyond its connectivity, Goregaon boasts a robust social infrastructure, featuring renowned schools, hospitals, shopping centres, malls, entertainment venues, and expansive green spaces like Aarey Forest. These amenities contribute to the area’s appeal for prospective residents.
Market Insights
Local real estate brokers have reported that the average price per square foot for apartments in Goregaon West ranges from Rs. 30,000 to Rs. 40,000, depending on various factors. This pricing reflects the area’s growing demand and the increasing value of properties as it continues to develop.
In summary, Arkade Developers’ acquisition of Filmistan Pvt Ltd positions the company to make a significant impact in the luxury residential market, further enhancing Goregaon’s status as a sought-after location in Mumbai.
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