After RK Studios, six-decade-old founded by the late filmmaker and screenwriter Kamal Amrohi in 1958, bollywood landmark Kamal Amrohi Studio, also known as Kamalistan Studio, which has produced many a hindi blockbuster, is going under the hammer as realty players DB Realty and Bengaluru-based RMZ Corp have agreed to jointly develop the 15-acre land into the country’s largest corporate office park.
DB Realty in a filing to the exchanges Monday said Mahal Pictures, the production house of Kamalistan has entered into an in-principle understanding with RMZ Group to sell and develop a part of the land, along the Jogeshwari-Vikhroli Link Road, into one of the largest corporate office parks.
Media reports said RMZ will get a 55% stake while DB Realty and Avinash Bhosale Group, which has a stake in Mahal Pictures, will hold the rest. The project may cost a whopping Rs 21,000 crore, offering over around 7 million sq ft of office space.
In 2010, Amrohi’s three sons sold a portion of the studio to three builders, DB Realty and Luthrias, who once owned Bandra’s erstwhile Sea Rock Hotel and Avinash Bhosale group for around Rs 200 crore.
The iconic Bollywood landmark canned many hits such as Mahal(1949), Pakeezah(1972), Razia Sultan(1983), Amar Akbar Anthony(1977) and Kaalia(1981) were shot at this studio.
Kamalistan is the second film studio to be converted into a commercial property after RK Studio.