India, July 3 -- Mumbai-based listed developer Arkade Developers Limited said on July 3 that it has entered into a binding agreement to acquire the entire stake in Filmistan Pvt Ltd for Rs.183 crore. The company plans to launch a project with luxury apartments having a gross development value of Rs.3,000 crore.

According to the company, this acquisition will enable Arkade Developers to develop the iconic 4-acre land parcel situated on SV Road in Goregaon West, popularly known as 'Filmistan Studios.'

The company said that the project is scheduled for a tentative launch in the calendar year of 2026 and is planned for an uber-luxury residential development that will feature spacious 3, 4, and 5 BHK residences along with exclusive penthouse...