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.

Experts in real estate assert that redevelopment in Mumbai is profitable due to the high demand for housing, prime locations, regulatory support, and incentives.