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Mumbai-based Arkade Developers has entered into a binding agreement to acquire Filmistan Studios' four-acre land in Mumbai’s Goregaon for Rs 183 crore, where the company will develop a residential project with a gross development value of Rs 3,000 crore.
Located on SV Road in Goregaon West, the project is scheduled for a tentative launch in the calendar year 2026 and will be an uber-luxury residential development featuring spacious 3, 4, and 5 BHK residences along with penthouses across two high-rise towers of 50 storeys each.
Amit Jain, chairman and managing director, Arkade Developers, said, "Filmistan Studios holds immense emotional and legacy significance for Mumbai, and we are privileged to be entrusted with shaping its next chapter. This development will go beyond being a premium address, and it will offer a thoughtfully curated lifestyle experience for a discerning few. With a focused strategy across the western suburbs, we are actively expanding our footprint in this region with a couple of launches planned in early 2026.”
Besides, in the last one year (April 2024–March 2025), Goregaon West has seen 1,300 new property sale transactions with a gross sales value of Rs 1,961 crore, according to Square Yards Data Intelligence, a real estate data analytics firm.
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The property rate in the area stood at Rs 35,208 per square foot as of the first quarter of the calendar year 2025 (Q1 CY25), against Rs 34,572 per square foot in Q1 CY24.
In June 2025, Arkade Developers acquired redevelopment rights for a society located in Bangur Nagar, Goregaon West, with a revenue potential of Rs 350 crore. The society is spread across 1.1 acres and offers a saleable area of approximately 86,000 square feet.
Additionally, so far, the company has completed 31 projects with an area of over 5.5 million square feet (msf), while an additional 2+ msf of projects are currently under construction.
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