MUMBAI: A buzz currently doing the rounds in Bollywood is that actor Dev Anand has sold off his Anand Recording Studio to a builder.

According to sources, a 12-storey apartment building will come up at the Anand Recording Studio property in Bandra. The ground floor will be retained for the recording studio.

Speaking to Businessofcinema.com Dev Anand’s son, Suneil Anand who looks after the studio said, "We are planning to refurbish the studio as we need to move with the times. We are planning to upgrade the studio and the work should not take more than a few months."

On questioning further as to whether the rumours that a 12-storey apartment building will come up above the studio he said, "We are not yet sure about that as talks are still going on."

However, according to sources the studio will be shut for approximately one to one and half year. They have not taken any further bookings other than the two films that they are working on namely Dharmesh Darshan’s Bhawra and a children’s film called Hawai Dada produced by Walt Disney and UTV Motion Pictures directed by Ajay Kartik.

Senior recordist of Anand Studio, Anup Dev who has worked on films like Ghajini, Taare Zameen Pe, Saawariya, Golmaal Returns, Rock On at Anand Studio said, "The studio is going to be renovated as there were some leakage problems and also we are planning to add more departments like a pre-mixing studio, effects trackling studio and approximately 75-seater preview theater. I have not taken any more bookings as of now because we are in the process of winding up things before the studio is broken down for renovations"

Anand Recording Studio was established in 1986 and is one of Bollywood’s premier sound and dubbing studios.