The iconic Filmistan Studio at Goregaon in Bombay will likely be demolished by the year-end. A deal to give up the space for two 50-storey towers for residential apartments was signed on July 3.
The Jalan family has sold the property to Arkade Developers for a reported price of Rs. 183 crore. A separate deal was inked in January for the sale of the four-acre land parcel excluding the structures thereon. That transaction between Arkade Developers and Aspen Properties along with its joint venture partner, Kamanwala Housing Construction, was valued at Rs. 165 crore.
The composite deal of the land and the studio is, therefore, valued at Rs. 348 crore.
