Arkade Developers Acquires Filmistan Studios for ₹183 Crore
In a significant move in the Indian real estate sector, Arkade Developers, a prominent real estate firm, has signed a binding agreement to acquire the entire stake in Filmistan Studios for around ₹183 crore. This acquisition is expected to give the company access to a 4-acre land parcel located in Goregaon West, a prime location in Mumbai. According to reports, Arkade Developers plans to launch a residential project on the site, which is expected to have a gross development value of ₹3,000 crore.
Filmistan Studios, a legendary film production house, has been a part of the Indian film industry for over seven decades. The studio has been involved in the production of numerous iconic Bollywood films, and its acquisition by Arkade Developers marks a significant milestone in the company’s growth journey. The acquisition is expected to give Arkade Developers a foothold in the luxury housing segment in Goregaon West, one of the most sought-after locations in Mumbai.
The acquisition of Filmistan Studios is a strategic move by Arkade Developers to expand its presence in the Mumbai real estate market. The company, which has previously developed several residential and commercial projects, is looking to capitalize on the growing demand for luxury housing in Goregaon West. The area is known for its proximity to the city’s business districts, international schools, and hospitals, making it an attractive location for high-end residential projects.
The Filmistan Studios site, which spans over 4 acres, offers a significant development potential. Arkade Developers plans to develop a luxury residential project on the site, which will feature high-end amenities and luxury apartments. The project is expected to be designed in consultation with renowned architects and will feature modern amenities such as swimming pools, gyms, and clubhouses.
The acquisition of Filmistan Studios is expected to give Arkade Developers a significant competitive edge in the Mumbai real estate market. The company’s decision to develop a luxury residential project on the site is likely to appeal to high-end buyers who are looking for premium housing options in Goregaon West.
The Indian real estate sector has been experiencing a slowdown in recent years, with many developers struggling to sell their inventory. However, there are signs that the sector is starting to recover, with many developers witnessing an increase in demand for their projects. The acquisition of Filmistan Studios by Arkade Developers is likely to give the company a significant boost in the short term, and its decision to develop a luxury residential project on the site is likely to appeal to high-end buyers.
In conclusion, the acquisition of Filmistan Studios by Arkade Developers is a significant move in the Indian real estate sector. The acquisition is expected to give the company access to a prime location in Goregaon West, which will enable it to develop a luxury residential project with a gross development value of ₹3,000 crore. The project is expected to feature high-end amenities and luxury apartments, and is likely to appeal to high-end buyers who are looking for premium housing options in Goregaon West.
