Particle.news
Download on the App Store
8 ARTICLES
·
last wk.

Arkade Developers Finalises ₹183 Crore Acquisition of Filmistan Studios for Twin Luxury Towers

Demolition applications are pending with municipal authorities to clear the site for twin 50-storey residential towers slated for a 2026 launch.

Mumbai-based listed developer Arkade Developers Limited said on July 3 that it has entered into a binding agreement to acquire the entire stake in Filmistan Pvt Ltd for ₹183 crore. (Picture for representational purposes only)
Image
Image
(Hindustan Times)

Overview

  • Arkade signed a binding agreement on July 3 to acquire Filmistan Pvt Ltd for ₹183 crore and secured final property rights from the Jalan family on July 4, bringing its total investment in the 4-acre Goregaon West parcel to ₹348 crore.
  • The transaction is an independent deal that does not require any regulatory approvals and is expected to close within a month.
  • Applications have been filed with the Brihanmumbai Municipal Corporation to demolish the existing studio structures by December.
  • The development will consist of two 50-storey towers featuring 3, 4 and 5 BHK apartments alongside exclusive penthouses, with a tentative launch in early 2026.
  • With a projected gross development value of ₹3,000 crore, the project marks Arkade’s entry into the uber-luxury residential segment in Mumbai’s western suburbs.