Although the building had survived phenomenally, the post-independence 'Socialist era' the fatal blow to business came since the late 2000s due to the rise of Multiplexes and their immense popularity completely hit the ticket sales of uniplex theaters across Kolkata.

It has been planned to renovate the theater into a 6 storey multiplex along with retail and food courts keeping the heritage facade and the front section of the building, and the Grand Stairways as it is.

As of June 2012[update] Heritage commission of Calcutta Municipal Corporation initiated a project to turn this standalone theatre into a multiplex.

[5] On 27 June 2012, The Telegraph (Calcutta) wrote about this– "This, for many, is yet another instance of the city’s total indifference to its cultural heritage about which it never fails to boast ".

The ongoing redevelopment plan that had been designed by architect firm Dulal Mukherjee & Associates — Art Deco facade with waterfall-style columns and grand staircase — is being retained.

[6] Apart from being a famous landmark building of the city, the theatre has often appeared in many Tollywood and Bollywood movies, based in Kolkata.

Most notably in the 2014 Bollywood action thriller Gunday, the Metro cinema was the plot for the climax of the movie where Nandita(Priyanka Chopra) invites both Vikram(Ranvir Singh) and Bãla(Arjun Kapoor) "to watch a movie in Metro Cinema ".