Filmistan Studios, which was one of the earliest studios in Mumbai, became the base for film shoots in the city back in the 1940s, and for decades, it stood tall holding a large part of Indian cinema’s history. Now, the studio and the property it stands on, has been acquired by real estate developers Arkade Developers for a whopping sum of Rs 183 crore. The deal for the transaction was officially registered on July 3.
Filmistan was founded by Kajol and Rani Mukerji’s grandfather Sasadhar Mukherjee along with his brother-in-law, late actor, Ashok Kumar in 1943. Gyan Mukherjee and Rai Bahadur Chunilal were also the founders of the studio. The studio came into being after 1943 when Ashok Kumar left Bombay Talkies, another prolific studio in the city. Back in the day, studios were not just seen as places that provide their services for shoot, but as production companies that made films within the studio. For years, actors were employed by these studios on a salary system.
Known for its sound stages, outdoor sets, and accessibility to filmmakers, Filmistan served as a filming location for numerous Bollywood movies, television serials and commercial shoots for decades. However, in recent years, it saw a gradual decline as other technologically advanced studios started emerging in the city.
According to Hindustan Times, Arkade Developers Limited plans to launch a project with luxury apartments having a gross development value of Rs 3000 crore. The project is reportedly scheduled for a tentative launch in 2026. The project will reportedly include 3, 4, and 5 BHK residences along with exclusive penthouses, across two high-rise towers of 50 floors each.
Amit Jain, the Chairman and Managing Director of Arkade Developers took to his LinkedIn profile to confirm the news. He wrote, “Thrilled to share that Arkade Developers has successfully acquired the iconic 4-acre Filmistan Pvt. Ltd. land parcel on SV Road, Goregaon West, for a total consideration of Rs 183 crore.” He added, “This strategic acquisition paves the way for an ultra-luxury residential project on one of Mumbai’s most storied addresses — popularly known as ‘Filmistan Studios’.”
Jain told Hindustan Times, “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. At Arkade Developers, we are not just creating homes; we are crafting a legacy that reflects the dynamic aspirations of our ever-evolving city.”
