₹183-cr deal inked as Filmistan makes way for ultra-luxe houses

One of Bollywood's landmark studios, the Filmistan Studio in Goregaon West, will be razed by December, as a long-pending deal to ease this space for two 50-storey ultra-luxury residential apartments was inked on Thursday.

- Ateeq Shaikh and Meena lyer

The Jalan family, members of who own the studio properties, transferred their rights to Arkade Developers, for ₹183 crores, on Thursday. HT was unable to ascertain the names of the Jalans who own the properties, but for the fact that filmmaker Sashadhar Mukherjee, who built the studio in 1943, eventually sold it to one Tola-ram Jalan, a film financier from Kolkata.

Earlier, a separate deal was inked in January between Arkade Developers and Aspen Properties, along with its joint venture partner Kamanwala Housing Construction, to acquire the prime four-acre land parcel, excluding the structures on the land. That transaction was made at ₹165 crore.