According to reports, the studio is set to be redeveloped with DB Realty and RMZ Corp vying for the project.
After RK Studios, Kamal Amrohi's Kamalistan to go the developer way
Mumbai - 11 Jun 2019 21:05 IST
A month after Raj Kapoor's iconic RK Studios in Chembur, northeast Mumbai, was sold to Godrej Properties, another iconic piece of real estate connected with Hindi cinema is set to be redeveloped.
According to the Press Trust of India news agency, real-estate groups DB Realty and Bengaluru-based RMZ Corp plan to invest in the redevelopment of filmmaker Kamal Amrohi's Kamalistan. The 15-acre studio abutting the arterial Jogeshwari-Vikhroli Link Road in suburban Mumbai is to be turned into a large corporate park.
According to the Hindustan Times newspaper, DB Realty has stated in a filing with the stock exchanges that Mahal Pictures, owner of the estate, has entered into an in-principle understanding with the RMZ group to redevelop a portion of the area.
Kamalistan was founded in 1958 by Kamal Amrohi and was the location for the shooting of several iconic Hindi films like Pakeezah (1972), Amar Akbar Anthony (1977) and Razia Sultan (1983).
A portion of the studio was sold, by the director's sons, to three people, DB Realty, the Luthrias, and Avinash Bhosale group.
The PTI report also stated that the real estate company had issued a statement last week about old disputes among investors in Mahal Pictures having been settled, with DB Realty increasing its share in the company to 40% from 33.33%. The remaining 60% in the upcoming development will be held by the Avinash Bhosale group.