Mumbai-based Arkade Developers is preparing to launch a luxury residential project on the iconic Filmistan Studio land in Goregaon, once owned by the family of Bollywood star Kajol. The project, featuring 3-, 4-, and 5-BHK residences and penthouses, is expected to debut in FY26 with an estimated development value of ₹3,000 crore, according to a Hindustan Times report.
Founded by Kajol’s grandfather Sasadhar Mukherjee in 1943, the Filmistan Studio has long been a part of India’s cinematic heritage. The four-acre site hosted legendary films such as Paying Guest (1957), Nastik (1954), Anarkali (1953), and more recently 2 States (2014).
High-End Residences Across Two 50-Storey Towers
The proposed development is envisioned as an ultra-luxury project with spacious 3-, 4-, and 5-BHK apartments, along with exclusive penthouses spread across two high-rise towers of 50 floors each. Arkade Developers aims to begin construction in early FY26, depending on regulatory approvals.
“Our target is early next financial year, around Q1FY26, for launching the Filmistan project. If not then, we aim for a festive-season launch,” said Amit Jain, chairman and managing director of Arkade Developers Limited.
Jain confirmed that the studio structures have already been demolished to make way for the luxury residential project. “That’s all I can share at this stage,” he added.
Part of ₹8,000-Crore Development Pipeline
The Filmistan project is one of seven new developments the company is planning, collectively valued at around ₹8,000 crore. These include both land-based and redevelopment projects across Mumbai.
“We currently have six ongoing projects worth ₹2,000 crore, averaging ₹350 crore each. The upcoming cycle offers us over ₹8,000 crore of potential value through seven new projects—three on our own land and four redevelopment-based,” Jain told Hindustan Times.
Focus Remains on the Mumbai Metropolitan Region (MMR)
Arkade Developers continues to focus its growth strategy within the Mumbai Metropolitan Region, while also exploring opportunities in Thane and suburban Mumbai.
“We are open to undertaking more redevelopment projects in suburban Mumbai and are evaluating land options in Thane,” the company said.
Expanding into the Second-Home Market
Alongside its premium Mumbai ventures, Arkade Developers has announced plans to enter the second-home market with a plot and villa project in the Neral-Karjat belt. The project will feature plots starting from ₹50 lakh and 3BHK villas priced at around ₹1 crore.
According to reports, the company is scouting 80- to 100-acre land parcels for the development, marking its entry into the luxury weekend home segment.
