Kajol and Rani Mukerji's grandfather's 82-year-old studio will be turned into Rs 3,000 crore luxury apartments

Economic Times

06-07-2025

Transition to Real Estate: The Studio's Fate Sealed
Emotional Response and Protests from Industry Workers
A Living Symbol of Bollywood's Past
Current Work by the Mukherjee Family
Established in 1943 by the visionary Sashadhar Mukherjee—grandfather to Bollywood divas Kajol and Rani Mukerji—Filmistan Studios emerged as a foundational pillar of the Indian film industry. Located in Goregaon West, Mumbai, the studio was co-founded with legendary figures like Ashok Kumar, Gyan Mukherjee, and Rai Bahadur Chunilal. Together, they helped shape what would become one of Bollywood's most iconic creative spaces. Filmistan broke away from Bombay Talkies to form an independent platform for filmmaking, and for decades, it wasn't just a set location—it functioned as a full-scale production house where artists and technical staff were employed with stable, monthly incomes.As reported by Times Now Digital, on July 3, 2025, Filmistan Studios was officially acquired by Arkade Developers Limited for a transaction valued at approximately ₹183 crore. This purchase marks a pivotal moment, signaling the symbolic conclusion of Hindi cinema's so-called golden period. The new owners plan to transform the property into a high-end residential complex.According to a report in the Economic Times, Arkade Developers is preparing to launch a luxurious real estate project on the site, slated for 2026. The project is projected to cost around ₹3,000 crore and will feature two towering 50-storey buildings comprising premium 3, 4, and 5 BHK apartments. Amit Jain, Chairman and Managing Director of Arkade Developers, confirmed the development on LinkedIn, stating that the acquisition aligns with the company's vision for upscale urban living.The sale has sparked significant outcry among members of the Indian film fraternity. The All Indian Cine Workers Association ( AICWA ) has publicly expressed its discontent, calling on Maharashtra's Chief Minister, Devendra Fadnavis, to step in and prevent the destruction of Filmistan Studios. The organization emphasized that the studio represents not just an architectural landmark but a rich cultural heritage built on the relentless dedication of thousands of behind-the-scenes professionals.AICWA warned that the redevelopment would result in widespread job loss for technicians, camera operators, and daily-wage laborers who have long depended on the studio for their livelihood. Their letter also highlighted that several other historic film studios are facing similar threats, posing a broader risk to employment across the entertainment sector.For generations, Filmistan Studios served as a nucleus for creativity in Hindi cinema. More than a workplace, it stood as a testament to collaboration and passion, sheltering not only celebrated stars but also an army of skilled professionals whose contributions were often unseen but vital. Its conversion into a luxury complex signifies a dramatic shift in priorities—one that places real estate over artistic heritage.Meanwhile, Kajol, one of Sashadhar Mukherjee 's most prominent descendants, continues her journey in Indian cinema. Her recent performance was in Maa, a supernatural thriller linked to the Shaitaan cinematic universe. The film follows a mother battling dark forces to protect her child, mirroring the emotional tension that now surrounds the fate of her family's historic legacy.Filmistan Studios may soon exist only in memories and archived footage, but for those whose lives it touched, its walls carried more than echoes—they carried dreams.