Mumbai’s real estate story is often a tale of reinvention. One such chapter is now unfolding at Filmistan Studios, the iconic four-acre campus in Goregaon West, recently acquired by Arkade Developers for ₹183 crore. For decades, Filmistan served as a backdrop for Indian cinema. Today, it’s poised to transform into a luxury residential project with a projected Gross Development Value (GDV) of ₹3,000 crore.
This isn’t just a change of land use — it’s a blueprint for what’s possible when legacy, location, and regulation align.
But what makes this deal especially interesting to real estate developers is how DCPR 2034 can be leveraged to unlock land potential across multiple feasible paths.
Let’s break down what we know, what’s possible, and what this means for Mumbai’s development community.
The Deal: Arkade’s Landmark Acquisition
On July 3, Arkade Developers formally registered the purchase of Filmistan Pvt. Ltd.’s 4-acre plot on SV Road, Goregaon West, for ₹183 crore. The site, with cinematic roots going back to 1943, is now earmarked for a premium residential development including:
- Two 50-storey towers
- 3, 4, 5 BHK ultra luxury apartments
- 400 apartments
- Min. size for 3BHK is 1500 sq ft
- Luxury penthouses
- Full amenities and curated lifestyle experiences
With a launch planned for 2026, the developer is positioning this as a flagship offering, building on both location value and the land’s emotional legacy.
Why Goregaon West?
The location speaks for itself:
- Excellent connectivity to Western Express Highway, SV Road, Link Road, and Metro Line 2A
- Quick access to Andheri, BKC, and Malad-Goregaon commercial belts
- Proximity to Aarey Forest, offering rare green views in Mumbai’s concrete jungle
From a real estate feasibility lens, this is a rare combination of connectivity, green pockets, premium demand, and buildable area — making it ripe for a high-end residential play.
DCPR 2034: What FSI Scenarios Are Possible?
One of the biggest questions for any developer evaluating such a land parcel is: “What regulation will apply and how much FSI can I get?”
Here’s a breakdown of the most relevant DCPR 2034 regulations that may apply to the Filmistan Studios plot, depending on strategic intent and feasibility:
Regulation 33(7A): Redevelopment of Tenanted (Non-Cessed) Buildings
Ideal for: Redevelopment of old tenanted buildings, not under cess norms
- Provides incentive FSI up to 50% of the rehab component
- Eligibility: Applies if existing structures are tenanted and at least 30 yrs of age
- Often requires collaboration with tenants and rent agreements
If Filmistan had operational studios or pre-1996 tenant records, 33(7A) might apply.
Regulation 33(9): Cluster Redevelopment
Ideal for: Redevelopment of old, dilapidated buildings or large tenant-occupied sites
- Minimum plot size: 6,000 sq.m with consent from 70% of residents
- Permissible FSI: 5.40 including fungible FSI
- Challenges: MHADA or MCGM housing stock to be provided
If Filmistan had active tenant societies or if nearby buildings were included, 33(9) could be a lucrative hybrid model, balancing rehab with saleable stock.
Regulation 33(19): Unlocking Commercial & Mixed-Use Potential
Ideal for: Commercial development in CBD, or independent plots (I to R/C plots), with part existing residential occupancy
- Base FSI: 1.0 to 1.33 depending on location
- Permissible FSI: Up to 5.0 with TDR + premium FSI purchases
- Advantages: Simple, clean process with no rehabilitation obligations
In the Filmistan case, if market dynamics allow, Arkade could apply this model to add offices, studio-retail spaces, or even boutique hotel formats — making it a destination, not just a residence.
Other possible Regulations applicable with mandatory PAP/ PTC components –
- 33(11): Up to 4.0 FSI
- Combo 33(20B) with 33(7A): Up to 4.0 FSI
What This Means for Mumbai’s Developer Community
The Filmistan redevelopment reflects a broader trend:
- Legacy land parcels — old studios, factories, or mill plots — are the next big frontier
2. Real estate feasibility is now tied to smarter FSI optimization, not just land rates
3. DCPR 2034 offers flexibility — from luxury towers to rehab clusters and hybrid formats
4. Developers who adopt tools to instantly assess land potential, FSI permutations, and scheme viability will gain the speed and confidence needed to stay ahead
How Archonet Supports Smart Feasibility
At Archonet, we built LandWise to help developers decode opportunities like this faster:
- Evaluate multiple DCPR options for any plot in Maharashtra
- Get instant FSI calculations, including fungible, premium, and TDR
- Compare project viability across luxury, rehab, or mixed-use formats
- Eliminate guesswork and reduce dependency on legacy spreadsheets
If you’re analyzing 80–100 land parcels a year, one wrong assumption can cost crores. Let’s help you make that call right — from the start.
Final Word
The redevelopment of Filmistan Studios is not just the end of a chapter — it’s the beginning of something ambitious, aspirational, and deeply rooted in Mumbai’s ever-transforming skyline.
As regulations evolve and land potential shifts with each zone, the developers who think beyond the obvious — and validate every angle of feasibility — will shape the city’s future.
Want to explore how your next project compares? Let’s evaluate it together.
To read our analysis on Rustomjee’s GTB Nagar Redevelopment, click here