The iconic Filmistan Studios, founded by Bollywood stalwarts including Kajol and Rani Mukerji’s grandfather Sashadhar Mukherjee, has been sold to Arkade Developers for ₹183 crore. The studio, spread across nearly four acres in Goregaon West, Mumbai, has been a silent witness to the evolution of Hindi cinema for over eight decades.
Founded in 1943, Filmistan was once at the heart of Bollywood’s golden era, producing and hosting countless film and television shoots. With this acquisition, Arkade Developers plans to transform the storied grounds into a sprawling ultra-luxury residential complex worth an estimated ₹3,000 crore.
Filmistan Studios was established after Sashadhar Mukherjee and other veterans, including legendary actor Ashok Kumar, split from Bombay Talkies to form a production house that would revolutionize filmmaking in India. The studio became known for producing classics that laid the foundation of mainstream Hindi cinema. Its stages saw the creation of path-breaking films, and over time, the facility grew into a vibrant ecosystem of producers, technicians, and artists.
Even after the rise of newer, glossier production hubs, Filmistan remained a preferred shooting destination for many film and TV serial makers. It retained an old-world charm, serving as a bridge between Bollywood’s past and present.
However, the last few years witnessed a steep decline in activity. The arrival of modern studios with better amenities, combined with rising maintenance costs and legal disputes over ownership, eventually pushed Filmistan toward a sale.
In early July 2025, Arkade Developers completed the transaction to acquire the land and existing structures. According to the company, this is one of their most strategic acquisitions to date. Arkade plans to demolish the studio and replace it with two 50-storey luxury residential towers featuring 3, 4, and 5 BHK apartments, high-end penthouses, and expansive amenities.
Arkade’s Managing Director Amit Jain shared a statement on social media confirming the deal:
“Thrilled to share that Arkade Developers has successfully acquired the iconic 4-acre Filmistan Pvt. Ltd. land parcel. This strategic acquisition paves the way for an ultra-luxury residential project on one of Mumbai’s most storied addresses.”
He further added that the project, expected to launch in 2026, will redefine luxury living in Goregaon and aims to set new benchmarks in design and sustainability.
The developer has estimated the gross development value of the project at around ₹3,000 crore, making it one of Mumbai’s most ambitious redevelopment initiatives this decade.
Backlash and Worker Protests
While the deal is being hailed in real estate circles as a win for urban redevelopment, it has sparked strong criticism among cine workers and cultural preservation advocates. The All Indian Cine Workers Association (AICWA) has issued a public appeal to Maharashtra Chief Minister Devendra Fadnavis, urging the state government to intervene and preserve Filmistan as a heritage site.
AICWA’s statement reads:
“Thousands of technicians, junior artists, and daily-wage workers have depended on Filmistan Studios for their livelihood for generations. Demolishing this institution will erase an invaluable piece of our cinematic heritage and impact countless families.”
The association has also expressed concerns that the sale reflects a growing trend of prioritizing commercial interests over cultural preservation. The workers argue that while progress is important, heritage sites must be protected for future generations to understand Bollywood’s evolution.
The transformation of Filmistan Studios into premium residential towers is symbolic of a broader shift in Mumbai’s urban fabric. As land scarcity intensifies and property values skyrocket, many historic institutions are making way for skyscrapers.
Real estate experts note that Filmistan’s location in Goregaon, with excellent connectivity to the Western Express Highway and major business hubs, makes it one of the most lucrative parcels in suburban Mumbai. Arkade’s plan to build modern apartments caters to the surging demand for high-end housing in the city’s western suburbs.
A Symbolic Loss for Bollywood
Industry veterans and cinema lovers have described the sale as the end of an era. For decades, Filmistan Studios was a place where legends like Raj Kapoor, Dilip Kumar, and Meena Kumari worked, and where generations of filmmakers honed their craft. Its rustic sets and vintage equipment told stories of a time when filmmaking was an intimate, collaborative process.
While Arkade has not confirmed whether any parts of the studio will be preserved as a memorial, many stakeholders are hopeful that some homage to Filmistan’s cinematic legacy will remain incorporated into the new development.
With the deal finalized, Arkade Developers are expected to begin demolition work later this year after securing the necessary permissions and clearances. The developer is already in discussions with international architects and consultants to design the towers.
Meanwhile, AICWA has announced plans to organize peaceful protests and submit formal petitions to local authorities to protect portions of the studio or install a heritage plaque recognizing its historical importance.
Key Highlights
- Sale Price: ₹183 crore
- Studio Size: 4 acres
- Buyer: Arkade Developers
- Planned Project: 2 luxury towers with 3–5 BHK apartments
- Estimated Value: ₹3,000 crore
- Heritage Impact: Strong protests by cine workers and cultural bodies
The sale of Filmistan Studios is more than just a property transaction—it represents a profound cultural shift in India’s commercial capital. As bulldozers prepare to enter a place where cinematic magic once unfolded, Mumbai stands at a crossroads between preserving its past and building its future. Whether or not the city can balance both remains to be seen.
