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Iconic Famous Studios property in South Mumbai set for Rs 650 crore sale
Real estate major K Raheja Corp is in advanced talks to acquire the 1.5-acre property located on Dr. E Moses Road, overlooking the Mahalaxmi Racecourse. Final development potential will hinge on approvals from local civic authorities.
For decades, Famous Studios has stood as a go-to location for production houses and ad agencies, shaping the legacy of India’s visual storytelling industry. (Image Source: Web)
The legendary Famous Studios property in South Mumbai—an industry hub for film, television, and advertising since 1946—is reportedly set to change hands in a deal valued at ₹650 crore, according to The Economic Times.
Real estate major K Raheja Corp is in advanced talks to acquire the 1.5-acre property located on Dr. E Moses Road, overlooking the Mahalaxmi Racecourse. Final development potential will hinge on approvals from local civic authorities.
This isn't the property's first brush with redevelopment. In 2012, Piramal Realty had entered a ₹350 crore joint venture with the owners to build luxury apartments on the site. However, that deal collapsed within a year due to commercial disagreements, regulatory hurdles in converting leasehold land use, and tenant relocation issues.
For decades, Famous Studios has stood as a go-to location for production houses and ad agencies, shaping the legacy of India’s visual storytelling industry.
Read More: TCS signs Rs2,130 crore lease in Bengaluru, paying Rs9.31 crore monthly for 1.4 million sq ft
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