Godrej buys Raj Kapoor’s iconic bungalow in Chembur for ₹100 crore | Mumbai news - Hindustan Times
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Godrej buys Raj Kapoor’s iconic bungalow in Chembur for 100 crore

BySatish Nandgaonkar
Feb 18, 2023 01:31 AM IST

The fresh acquisition adjoins RK Films and Studios, spread across 2.2 acres, which the company bought from the Kapoors in May 2019, for an estimated price between ₹180-200 crore.

Mumbai: Godrej Properties Ltd. (GPL) acquired Bollywood showman Raj Kapoor’s iconic bungalow, Deonar Cottage, on Friday for 100 crore. The 4265.50 sq mt property, also known as RK Cottage, on Deonar Farm Road in Chembur, once where some of Hindi film industry’s brightest minds brainstormed, will now be developed as a premium residential project.

On Friday, the bungalow’s deed of conveyance was signed by the late filmmaker’s oldest son, Randhir Kapoor, daughter Reema Jain, grandchildren Nitasha Nanda and Nikhil Nanda, and late Rishi Kapoor’s wife Neetu Rishi Kapoor, according to documents accessed by Zapkey.com, the aggregator of publicly available property registration documents. (Praful Gangurde/HT Photo)
On Friday, the bungalow’s deed of conveyance was signed by the late filmmaker’s oldest son, Randhir Kapoor, daughter Reema Jain, grandchildren Nitasha Nanda and Nikhil Nanda, and late Rishi Kapoor’s wife Neetu Rishi Kapoor, according to documents accessed by Zapkey.com, the aggregator of publicly available property registration documents. (Praful Gangurde/HT Photo)

GPL’s fresh acquisition adjoins RK Films and Studios, spread across 2.2 acres, which the company bought from the Kapoors in May 2019, for an estimated price between 180-200 crore, to construct residential apartments and luxury retail space. The project, titled Godrej RKS, is expected to be delivered in 2023.

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On Friday, the bungalow’s deed of conveyance was signed by the late filmmaker’s oldest son, Randhir Kapoor, daughter Reema Jain, grandchildren Nitasha Nanda and Nikhil Nanda, and late Rishi Kapoor’s wife Neetu Rishi Kapoor, according to documents accessed by Zapkey.com, the aggregator of publicly available property registration documents.

After inking the deal, actor producer Randhir Kapoor, said, “This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to have the Godrejs take this rich legacy forward for the next phase of development.”

In her book ‘The Kapoors: The First Family of Indian Cinema,’ writer Madhu Jain wrote that RK Cottage, built even before the RK Studio, had a room at the back which was known as Nargis’s room. It was preserved as a shrine with her clothes and crockery.

Calling it Raj Kapoor’s sanctum sanctorum, Jain wrote: “The real Raj Kapoor dwelled here. It was a temple to his inner life. Modest and cosy, the cottage housed what was dearest to him.” It was also here that several family weddings took place and elaborate lunches were hosted, showcasing the legendary Kapoor hospitality.

Following the acquisition, Gaurav Pandey, MD and CEO, Godrej Properties, said, “The demand for premium developments has been strong over the past few years. This project will allow us to further strengthen our presence in Chembur. We will aim to build an outstanding residential community that creates long term value for its residents and celebrates the legacy of the site.”

Godrej has three completed projects in Chembur in Godrej Prime, Godrej Central and Godrej Serenity.

Elaborating on the gentrification of this part of Mumbai’s northern suburbs, Ritesh Mehta, Senior Director and Head – West and North India, Residential Services, JLL, said, “The Deonar Farm Road and Chembur has developed as a good residential neighbourhood for 3 and 4BHK homes priced between 8 to 15 crore. It provides good connectivity through Eastern Freeway to South Mumbai, Central Mumbai and Bandra Kurla Complex. That’s why several A-list builders have projects there.”

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