After a lot of speculations, it has been confirmed that Mammootty starrer Karnan will hit the floors in the coming year. Directed by Madhupal and scripted by P Sreekumar, this movie will be a big budget flick. As per the sources, the budget for the film is clocked between Rs. 60-70 crores. This is huge considering the Malayalam film industry standards. With this budget estimate, Karnan will surely take over the baton for the highest budget Malayalam movie, from Jayaraj's Veeram, which is made with Rs. 35 crores. Earlier, RS Vimal had stated that his movie Karnan with Prithviraj as the lead will be made on a whooping Rs. 300 crores.