Kamal Amrohi Studio in Mumbai, also known as Kamalistan Studio, is going under the hammer as DB Realty and RMZ Corp have agreed to jointly develop the land into the country's largest corporate office park.

The property spread over 15 acre of land parcel is the second film studio in the city to be converted into commercial property after RK Studio.

Mahal Pictures (MMPL), the production house of Kamalistan, has entered an in-principle understanding with RMZ Group to sell and develop a part of the land along the Jogeshwari-Vikroli Link Road into one of the largest corporate office parks and may be named as Aspire.

RMZ will get 55 percent stake while DB Realty and Avinash Bhosale Group will hold the remaining share. The project is expected to cost Rs 21,000 crore, offering  around seven million sq ft of office space.

The studio was built in 1958 on the 15 acre land parcel in the Jogeshwari area of the megapolis.