Arkade Developers Ltd has acquired Filmistan Pvt Ltd, which owns 4 acres of prime land in Goregaon West, Mumbai, for Rs 183 crore. The company plans to develop a housing project on the site, with an estimated revenue of Rs 3,000 crore.
Filmistan studios. Image/File Pic
Realty firm Arkade Developers Ltd has acquired 'Filmistan Pvt Ltd', which owns 4 acre land in Mumbai, for Rs 183 crore to develop a housing project with an estimated revenue of Rs 3,000 crore.
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 in a regulatory filing on Thursday.
The company's board approved the execution of a Share Purchase Agreement (SPA) for the acquisition of 100 per cent shares in Filmistan Private Limited (FPL).
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