Famous Studio invites claims to property

Famous Studio in Mahalaxmi,which has been up for sale for a while now,put up a public notice on Thursday inviting persons with any claims to the property to come forward immediately.

Written by Express News Service | Published: April 20, 2012 1:31 am

Famous Studio in Mahalaxmi,which has been up for sale for a while now,put up a public notice on Thursday inviting persons with any claims to the property to come forward immediately.

The notice,published at a time when a handful of big-ticket realty developers have been driving a hard bargain for the prime plot,sparked speculation in the industry with several indicating that the studio has already been sold.

The notice put up by advocates of Khaitan and Company said any one having any claims or objections in respect of the property by way of lease,sale,transfer,mortgage or inheritance should come forward within 14 days of publication of the notice.

The 6,506 sq m lease hold land with an existing built up area of 1.10 lakh sq ft is located along the E Moses road in Mahalaxmi. According to industry sources,its valuation is pegged at over Rs 300 crore.

Piramal Realty as well as DB Realty,which has taken up redevelopment of a few other properties along the road,have been reportedly been front-runners for the plot.

However the Piramal Realty spokesperson refused to comment on the issue. A spokesperson for Famous Studio denied that the public notice was in any way an indicator that the plot has been sold already.

“We have applied for a bank loan to fund certain expansion plans. In order to get the bank loan we need to have certain entries in the land records removed first and have a land clear title in place. We have been pursuing this issue with a government for a while now,” the spokesperson said. He however did not deny the possibility of selling the plot in the near future.

The studio offers facilities for shooting,editing suites,equipment rentals,sound recording,animation,film design and art direction and is a recipient of the Dadasaheb Phalke award for its contribution to film industry. It was set up in 1946 and has since been a hub for cinema and ad film makers.

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