Iconic 80-Year-Old Mumbai Studio to Be Replaced by 69-Storey Luxury Tower
The historic Famous Studios in Mumbai, where iconic films like 'Hum Saath Saath Hain' were shot, is set to be demolished to make way for a 69-storey luxury residential tower. The project, expected to be completed before Christmas 2025, will offer stunning views of the Mahalaxmi Race Course and the Arabian Sea.
MumbaiFamous StudiosLuxury TowerReal EstateRedevelopmentReal Estate MumbaiSep 02, 2025
The Famous Studios in Mahalaxmi, Mumbai, has been one of the most iconic landmarks of the Hindi film industry. Over the years, several real estate agents like Piramal Realty, Godrej Properties, D B Realty (now Valor Estate), Prestige, and K Raheja Corp have shown interest in acquiring the property, but to no success.
Now, as per Hindustan Times, K Raheja Corp is close to securing the redevelopment project of this land. The deal is expected to be worth ₹659 crore. Arunkumar Roongta and Chandralekha Roongta, studio directors, have already applied for redevelopment permission to the Brihanmumbai Municipal Corporation (BMC). Back in August 2024, Mumbai Metro Rail Corporation (MMRC) mentioned that the site falls within 500 metres of the upcoming Science Museum Metro Station.
In July 2025, a report suggested that a future residential project is expected to connect to the metro station. On this, MMRC and Famous Studios will sign an agreement.
After demolishing Famous Studios in Mumbai, the builders are planning to build a 69-floor luxury tower. This tower will feature palatial 3-4 BHK apartments from the 9th floor onwards, while the lower floors will be a commercial space. According to Movie Talkies, the tall building will cover 70,000 square feet of area and will offer a breathtaking view of Mahalaxmi Race Course and the Arabian Sea.
After Vivarea and Modern Vivarea, the redevelopment project of Famous Studios will be the third massive project of K Raheja Corp in Mahalaxmi. The discussion on the redevelopment project has been going on for the past three years. Before the talks on the project finally progressed in the last six months, the deal had failed twice. The demolition of the studio is expected to happen before Christmas 2025.
What are your thoughts on this? Share in the comment section!
Frequently Asked Questions
What is the historical significance of Famous Studios in Mumbai?
Famous Studios in Mahalaxmi, Mumbai, has been a significant landmark in the Hindi film industry for over eight decades. It has been the shooting location for many iconic films, including 'Hum Saath Saath Hain'.
Who is planning to redevelop the Famous Studios site?
K Raheja Corp is close to securing the redevelopment project of the Famous Studios site. The deal is expected to be worth ₹659 crore.
What will the new residential project include?
The new residential project will include a 69-floor luxury tower with palatial 3-4 BHK apartments from the 9th floor onwards. The lower floors will be used for commercial purposes.
When is the demolition of Famous Studios expected to happen?
The demolition of Famous Studios is expected to happen before Christmas 2025.
How will the new project benefit from metro connectivity?
The new residential project will benefit from improved metro connectivity as it is located within 500 metres of the upcoming Science Museum Metro Station.
Related News Articles
Boosting India's Housing Market: Developers Seek Tax Incentives and Industry Status in Budget 2024
The Indian housing sector is looking forward to the Union Budget 2024, expecting tax reliefs and other sentiment boosters to stimulate growth in the market.
Kalpataru Ltd Set to Enter Nagpur Real Estate Market with Plotted Development Project
Mumbai-based Kalpataru Ltd plans to launch a plotted development project in Nagpur, marking its entry into the city's real estate market. The project will be spread across 37 acres and will have 400 plots of sizes 1,200 to 4,000 sq ft range.
Hong Kong Halts Commercial Land Sales for Seventh Consecutive Quarter
Hong Kong's government has announced that it will not sell any commercial land in the quarter from October to December, citing low demand and high office vacancy rates.
Homebuyers Forum Claims RERA Act Falls Short of Objectives, Urges Consumer Affairs Ministry for Action
A forum representing homebuyers in Maharashtra claims that the Real Estate (Regulation and Development) Act, 2016, has failed to meet its objectives. The forum is now urging the Union Consumer Affairs Ministry to issue specific guidelines to protect consu
Ahmedabad Shines with Top Rental Yields in India
Ahmedabad leads the pack with the highest rental yields in India, clocking in at 3.9%, according to a recent report by Magicbricks. Other cities like Hyderabad, Kolkata, and Pune are also seeing significant increases in rental returns.
Incuspaze Expands with Major Leasing Deal in Gurugram's Thriving Real Estate Market
Incuspaze, a prominent player in the commercial real estate sector, has announced a significant leasing deal in Gurugram, marking a major expansion in one of India’s most booming real estate markets. This move underscores the growing demand for quality of