Mumbai-based Arkade Developers is set to launch a luxury residential project featuring 3- and 4-BHK apartments on the iconic Filmistan Studio land in Goregaon, Mumbai, a site founded by Bollywood actor Kajol’s grandfather.
The project, expected to debut in the next financial year, has an estimated development potential of ₹3,000 crore. Overall, the company plans to launch seven real estate projects with a combined value of around ₹8,000 crore in the coming months, said Amit Jain, chairman and managing director of Arkade Developers Limited.
“We currently have six ongoing projects with a potential value of ₹2,000 crore, averaging ₹350 crore per project. However, in the upcoming cycle, we have the potential for ₹8000 crore or more for seven projects. Three out of the seven are land projects where we have the land, and four projects are of a redevelopment nature,” Jain said.
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Filmistan project
According to the company, it plans to launch a luxury real estate project on the Filmistan Studio land in the first quarter of FY26.
“Our target is early next financial year, say around Q1FY26, for launching the Filmistan Studio project, but it depends on several factors like approvals, etc. If not in the first quarter, the launch may happen by the festive season of next year,” Jain said.
According to Jain, the studios have already been demolished, and the company is targeting the early part of the next financial year for the project’s launch. “That’s all I can share at this stage,” he said.
Filmistan Studio, spread across 4 acres of land, was founded by Kajol’s grandfather, Sasadhar Mukherjee, in 1943. In July 2025, Arkade Developers announced plans to launch a luxury apartment project on the site.
Several top-grossing films of the 1940s and 1950s were shot there, including Paying Guest (1957), starring Dev Anand, Nastik (1954), directed by I.S. Johar, and the romantic saga Anarkali (1953). More recently, 2 States (2014) was also filmed at the studio.
The company announced in July 2025 that the project is scheduled for a tentative launch in 2026 and is planned as an ultra-luxury residential development featuring spacious 3-, 4-, and 5-BHK residences, along with exclusive penthouses, across two high-rise towers of 50 storeys each.
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Arkade Developers to remain focused on the Mumbai Metropolitan Region
According to the company, it will continue to focus on the Mumbai Metropolitan Region (MMR) for the time being. “We are open to undertaking more redevelopment projects in suburban Mumbai and are also exploring opportunities in Thane,” the company said.
Arkade Developers announced in August 2025 that it is set to enter the second-home market with a large-scale plot and villa project in the Neral-Karjat belt, offering plots starting from around ₹50 lakh and 3BHK villas priced at approximately ₹1 crore.
HT.com had reported that the company is actively scouting for land parcels in the range of 80 to 100 acres to bring the project to life.