Godrej Properties has acquired the iconic RK Studios property located in suburban Chembur, established by Bollywood legend Raj Kapoor in 1948. While the deal size was not disclosed, the value of the property at market price is estimated at around ₹200 crore.

Godrej Properties’ new project on the 2.2-acre site will offer approximately 33,000 sq metres of saleable area comprising residential apartments of various configurations as well as luxury retail space.

The studio has seen the production of Hindi blockbusters such as Awaara , Shri 420, Satyam Shivam Sundaram and Bobby.

The Kapoor family had been finding the cost of maintaining the iconic studio to be too high. A massive fire that broke out at the property two years ago made matters worse, leaving a portion of the studio gutted.

“This property in Chembur has been of tremendous significance to my family over the many decades that RK Studios operated from there. We are excited to have chosen Godrej Properties to script a new chapter for this location and build upon its rich history,” said Randhir Kapoor, the eldest son of Raj Kapoor.

The property represents prime real estate, with close proximity to hospitals, retail malls and residential and commercial space.

Prime real estate

“We are happy to add this iconic site in Chembur to our development portfolio. This fits well with our strategy of deepening our presence in key locations across India’s leading cities. We will seek to ensure we celebrate the remarkable legacy of this site with the goal of delivering an outstanding lifestyle for its residents,” said Pirojsha Godrej, Executive Chairman, Godrej Properties.

RK Studios has produced Hindi blockbusters such as Awaara, Shri 420, Bobby and Satyam Shivam Sundaram

 

 

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