Mumbai: Veteran Bollywood director and actor Raj Kapoor’s historic bungalow in Chembur which is also known as RK Studios has been acquired by Godrej Properties Ltd from Rs 100 crore. The real estate firm is all set to develop a premium residential project on the site.
Raj Kapoor died in June 1988, aged 64, in New Delhi. Since then the house was under the observation of the Kapoor family.
According to the report in IndiaTV news, Randhir Kapoor said, “This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to once again associate with Godrej Properties to take forward this rich legacy for the next phase of development of this location.”
The Godrej Properties Limited Managing Director and CEO Gaurav Panday said that the company is grateful to the Kapoor family for entrusting them with the task of creating new residential project on the site. He said, ”This project will allow us to further strengthen our presence in Chembur.”
He said that due to the demand for premium developments for the past few years, the company aims to build an outstanding residential community to celebrate the legacy of the site.
Raj Kapoor founded the RK Studios on 2.2 acres in Chembur in 1948.
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