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).