Famous Studio to Become 69-Storey Luxury Tower in Mumbai

For nearly 80 years, Famous Studio in Mahalaxmi stood as one of Mumbai’s most iconic film hubs, hosting countless productions since its founding in 1943 by J. B. Roongta.

Once a vibrant site for Indian cinema, spanning from black-and-white films to the OTT era, the studio is now set for a dramatic transformation. Partnering with the Roongta family, leading developer K Raheja Corp will redevelop the historic plot into a 69-storey luxury residential tower, marking a significant milestone for Mumbai’s evolving real estate market.

Key Highlights

• Famous Studio in Mahalaxmi to be redeveloped into a 69-storey tower
• Project offers 3 & 4 BHK sea-view apartments priced at Rs. 1 lakh+ per sq ft
• TOD project near Metro Line 3, marking K Raheja’s third Mahalaxmi venture

Negotiations between the two parties had been ongoing for over three years before being finalized recently. Demolition is expected to begin by Christmas 2025. The project will feature 3 BHK and 4 BHK luxury residences from the 9th to the 66th floor, with just two units per floor. Apartments will offer panoramic views of the Mahalaxmi Race Course and the Arabian Sea.

The 6,505.91 sq m plot, with a balance area of 5,966.97 sq m after road setbacks, permits a buildable area of over 40,000 sq m (approx. 4.3 lakh sq ft). Classified as a Transit-Oriented Development (TOD) due to its proximity to the upcoming Science Museum Metro Station, the project gains additional FSI benefits.

Also Read: Arkade to Launch Rs. 3000 Cr Luxury Project at Filmistan

Market experts estimate apartments could sell for over Rs. 1 lakh per sq ft, placing the development among the most premium in the city. This will be K Raheja Corp’s third project in Mahalaxmi, after Vivarea and Modern Vivarea, further cementing its luxury housing footprint in South Mumbai.