Filmistan Studios, a landmark in Mumbai’s cinematic history and founded by the grandfather of Kajol and Rani Mukerji, has been sold to Arkade Developers for Rs 183 crore.
A Historic Sale Marks a New Era
The iconic Filmistan Studios, an early pioneer in Mumbai’s film production scene, has changed hands. Real estate firm Arkade Developers officially acquired the property on July 3 for a significant sum of Rs 183 crore.
For decades, Filmistan stood as a towering symbol of Indian cinema, serving as a primary base for film shoots since the 1940s. Its sale marks a pivotal moment, signaling a shift for a site steeped in Bollywood’s legacy.
The Enduring Legacy of Filmistan
Filmistan was co-founded in 1943 by Sasadhar Mukherjee, the grandfather of actresses Kajol and Rani Mukerji, alongside his brother-in-law, the late actor Ashok Kumar. Gyan Mukherjee and Rai Bahadur Chunilal were also instrumental in its establishment.
The studio emerged after Ashok Kumar’s departure from Bombay Talkies, another prominent studio of the era. In its heyday, Filmistan, like other studios, operated not just as a service provider for shoots but as a comprehensive production house, employing actors on a salary system.
Throughout the years, Filmistan was celebrated for its state-of-the-art sound stages, diverse outdoor sets, and overall accessibility for filmmakers. It hosted countless Bollywood movies, television serials, and commercial shoots, contributing immensely to the visual landscape of Indian entertainment.
From Celluloid Dreams to Luxury Living
Despite its rich past, Filmistan Studios experienced a gradual decline in recent years, as newer, technologically advanced studios emerged across the city. This paved the way for its transformation.
Arkade Developers has ambitious plans for the prime four-acre parcel located on SV Road, Goregaon West. They intend to launch an ultra-luxury residential project, projecting a gross development value of Rs 3000 crore.
The upcoming development, tentatively scheduled for a 2026 launch, will feature high-end 3, 4, and 5 BHK residences, along with exclusive penthouses. These will be housed within two impressive 50-floor high-rise towers, promising a new skyline for the area.
Developer’s Vision for the Future
Amit Jain, Chairman and Managing Director of Arkade Developers, confirmed the acquisition via LinkedIn, expressing his excitement for the project. He highlighted the strategic importance of the acquisition, noting its potential to create an ultra-luxury residential landmark at one of Mumbai’s most historically significant addresses.
Jain emphasized the emotional and legacy significance of Filmistan Studios for Mumbai. He stated that the new development aims to offer more than just premium residences; it will provide a meticulously curated lifestyle experience designed for a discerning clientele, reflecting the evolving aspirations of the city.
- Filmistan Studios was sold to Arkade Developers for Rs 183 crore.
- The studio was founded in 1943 by Sasadhar Mukherjee (Kajol and Rani Mukerji’s grandfather) and Ashok Kumar.
- Arkade Developers plans to build an ultra-luxury residential project with an estimated value of Rs 3000 crore on the site.
- The project is set to feature 3, 4, and 5 BHK residences and penthouses in two 50-story towers.
This sale marks a significant chapter in Mumbai’s urban development, blending its cinematic past with its future as a hub for luxury living.
