India‘s Godrej Fund Management has inked a landmark agreement with the Maharashtra government that promises to inject fresh vigor into India’s booming content creation ecosystem.
The memorandum of understanding, signed with Maharashtra Chief Minister Devendra Fadnavis at the World Audio Visual & Entertainment Summit (WAVES) conference in Mumbai, outlines plans for a cutting-edge film, television and media campus at Godrej City, Panvel. Mumbai, the capital of the western Indian state of Maharashtra, is home to the Hindi-language Bollywood film industry.
The project carries a total investment tag of INR20 billion (approximately $236 million) and is projected to generate employment for about 2,500 professionals across various disciplines. Phase one alone will see an investment of roughly $59 million on a sprawling 10-acre parcel.
This is the second major infrastructure deal signed with the Maharashtra government during WAVES, after the $400 million entertainment hub deal with Prime Focus Group.
The development is strategically positioned at Godrej City, a self-sustaining township spread across approximately 145 acres, featuring a 30-acre, 9-hole golf course. The location offers prime connectivity advantages, sitting a short drive from the upcoming Navi Mumbai International Airport and the Mumbai-Pune Expressway. The recently operational Atal Setu (Mumbai Trans Harbour Link) further enhances accessibility to South Mumbai.
In what could be a significant boost to India’s position as one of the world’s largest content producers, the campus will house AA studios, designed as a creative nucleus for artists, musicians, and filmmakers. The facility is expected to align with the government of India’s recent incentive policy for foreign film productions, potentially attracting international projects to Indian shores.
Under the agreement terms, the Maharashtra government will streamline necessary permissions, registrations, approvals, and fiscal incentives from related state departments for the development of the campus.
The development is being designed with future-readiness in mind, with leading international experts engaged to create facilities equipped with cutting-edge technologies, including AI integration. Beyond direct employment in content production, the project is expected to stimulate growth in hospitality, technical services, and tourism sectors while boosting foreign exchange earnings.
“This initiative marks a meaningful partnership with the government of Maharashtra to foster innovation, creativity, and employment,” said Karan Bolaria, MD & CEO of Godrej Fund Management. “Aligned with the Mumbai 3.0 vision, we aim to build a vibrant ecosystem that attracts global talent, empowers local creators, and positions Panvel as a cultural and commercial hub.”
Godrej is one of India’s most storied conglomerates. Its real estate investment arm, Godrej Fund Management, has rapidly emerged as a major player in India’s institutional-grade property market, steering marquee developments across Mumbai, Bengaluru and Delhi in partnership with global investors.
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