Mumbai: Godrej Properties in talks to buy iconic RK Studios?
Real estate giant Godrej Properties may be in talks with the late film-maker Raj Kapoor’s family to buy the iconic RK Studios in Chembur, according to multiple sources from the real estate marketUpdated: Oct 27, 2018 00:38 IST
Real estate giant Godrej Properties may be in talks with the late film-maker Raj Kapoor’s family to buy the iconic RK Studios in Chembur, according to multiple sources from the real estate market.
The property, which is spread over 8,239 square metre, could be sold for a price between ₹170 crore and ₹190 crore, said the sources.
When HT contacted the Godrej Group, a spokesperson said they did not wish to comment.
“As a matter of company policy, we do not comment on market speculation,” said the spokesperson.
Rajiv Kapoor, one of Raj Kapoor’s sons and joint-owner of the property along with his four siblings, said, “Talks are still on [with various parties] so I can’t comment.” When asked if Godrej Properties had made an offer to the family, Rajiv said, “At this stage, I can’t disclose who all we are in talks with.”
The Kapoor family decided to sell the studio after a portion of it was gutted in a fire on the sets of a reality TV show in September 2017.
Rishi Kapoor had first announced in August that the family had decided to sell the property after learning that the renovation of the studio would still not bring in enough revenue to keep the establishment running.
Established by Raj Kapoor in 1948 in Chembur, the RK Studios was the shooting locations for several of the film-maker’s movies such as Jis Desh Me Ganga Behti Hai (1960), Mera Naam Joker (1970), Bobby (1973), Satyam Shivam Sundaram (1978), and Prem Rog (1982), among others. On Friday, a public notice was issued by a law firm with the names of Raj Kapoor’s five children – Randhir Kapoor, Rishi Kapoor, Rajiv Kapoor, Ritu Nanda and Rima Jain – seeking information from any individuals or entities who wish to claim right on the property.
Issuing the notice is a legal requirement before a property deal is finalised.
The notice specifically states that it is meant to “investigate the ownership rights” of the Kapoor siblings and “their respective 1/5th undivided share, right, title and interest in the property”. It also states that “in the event no such claim is received within 14 days, the same will be considered as no claim exists or that they have been waived off or abandoned”.
With inputs from Prashant Singh