Kala Ghoda (IPA:Kāḷā Ghōḍā) literally Black Horse is a neighbourhood in South Mumbai area of Maharashtra state of India. The crescent-shaped precinct is the city's premier art district. It has a large number of the city's heritage buildings, and is full of museums, art galleries and educational institutions.like the Jehangir Art Gallery, the National Gallery of Modern Art, the Chhatrapati Shivaji Maharaj Vastu Sangrahalaya and The Arts Trust. Each year, the area hosts the Kala Ghoda Arts Festival. The area is sandwiched between Mumbai Port's docklands to the east, Regal Cinema to the south, Fountain to the north and Oval Maidan to the west. The Bombay Stock Exchange is to its north east.