Mumbai’s iconic Filmistan Studios, founded by Kajol and Rani Mukerji’s grandfather, sold for Rs 183 crore; to be redeveloped into luxury towers by 2026

Filmistan Studios, one of Mumbai’s earliest and most storied film studios, has officially been acquired by Arkade Developers for Rs 183 crore. The deal was registered on July 3 and marks the end of an era for a property that played a foundational role in shaping the landscape of Indian cinema since the 1940s.

Filmistan was founded in 1943 by Sasadhar Mukherjee, grandfather of actors Kajol and Rani Mukerji, alongside actor Ashok Kumar, Gyan Mukherjee, and Rai Bahadur Chunilal. The studio was born out of a break from Bombay Talkies, and quickly became a hub for Hindi film production. Back then, studios weren’t just rental spaces, they were full-fledged production houses employing actors on monthly salaries.


A legacy of Indian cinema to be replaced by luxury living

Known for its sound stages, accessible outdoor sets, and central location in Goregaon West, Filmistan served as the backdrop for countless Bollywood films, TV shows, and advertisements over several decades. However, with newer, tech-savvy studios mushrooming across the city, Filmistan gradually lost its sheen.

Now, the four-acre parcel on SV Road is set to transform. Arkade Developers plans to launch an ultra-luxury residential project with a projected gross development value of Rs 3,000 crore. The high-rise development, slated for a tentative launch in 2026, will reportedly include 3, 4, and 5 BHK residences and penthouses across two 50-storey towers.

‘Thrilled to shape the next chapter’

Confirming the news on the LinkedIn, Arkade Developers' Chairman and Managing Director Amit Jain 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 that the location will now house an “ultra-luxury residential project on one of Mumbai’s most storied addresses—popularly known as ‘Filmistan Studios’.”




In a statement to Hindustan Times, Jain emphasised the emotional weight of the site: “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.”

He also said that the company’s aim is not just to construct homes, but to build a legacy reflective of Mumbai’s evolving aspirations.