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Iconic RK Studios in Mumbai bought by Godrej Properties

RK Films & Studios in Mumbai, which late actor Raj Kapoor had set up in 1948, was sold to Godrej Properties, who will develop the area into a ‘modern residential apartments of various configurations’.

bollywood Updated: May 03, 2019 16:57 IST
Asian News International, Mumbai
RK Studios,Godrej Properties,Raj Kapoor
Many members of Kapoor family including brother Rishi, Randhir and Rajeev Kapoor at late Shashi Kapoor’s residence for their annual Chritsmas lunch.

RK Films & Studios in Mumbai, the iconic and sprawling location at Chembur which used to be film studio of yesteryear actor and filmmaker late Raj Kapoor, has been purchased by Godrej Properties for real estate development. It was set up by the legendary actor in 1948, a year after India gained Independence from the British Raj.

Godrej Properties said on Friday it will develop a mixed-use project at the site. “Spread across 2.2 acres, this project will offer 33,000 square metres (0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience,” it said in a statement.

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The company did not give value of the transaction but said the site is strategically located on the main Sion-Panvel Road and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential, and commercial spaces in close proximity.

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

Actor Randhir Kapoor of RK Studios said: “This property in Chembur has been of tremendous significance to my family over the many decades that RK Studios has 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.”

In August last year came the news that the members of Kapoor family had decided to sell the studio. Speaking about the reasons behind the decision, Randhir Kapoor had told The Quint, ”With the state of the roads and traffic today, no actor comes to Chembur to shoot in this studio. They would rather go to Film City. So, with a very heavy heart, we have decided to let it go. My whole family is very sad, but there’s no other way.” In 2017, the studio had been gutted because of massive fire.

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First Published: May 03, 2019 16:56 IST