Kamal Amrohi Studios will be redeveloped as the single largest commercial office park in Bombay. Bangalore-based RMZ Corp, Avinash Bhosale InfrastructuÂre and DB Realty will embark on a 7-million-sq.-ft. project valued at Rs. 21,000 crore. This follows Bhosale and DB Realty buying out the residual shareholding of the Amrohi family. The area will be known as Nexus. While RMZ will have a 55% economic interest in the new developed office park, Bhosale and DB will have the remaining 45%.
Work on the project will begin by the year-end. It will house approximately 1.25 lakh work stations or jobs once it is compÂleted in five to seven years. The studio was in legal disputes between the erstÂwhile and existing shareholders of Mahal Pictures Pvt. Ltd., which owned the land and studio. The disputes have reportedly been settled and the consent terms were filed in Bombay high court on 4th June.