Godrej Properties buys The iconic RK Studios by Raj Kapoor

On Friday, Godrej Properties Ltd (GPL) said it bought an undisclosed amount of Mumbai’s iconic RK Studios in Chembur. Founded by legendary movie actor Raj Kapoor, the famous RK studios were jointly owned by his predecessors.

Following a massive fire in 2017, the Kapoors decided that rebuilding the studios would no longer be economically viable as the fire had caused severe property damage.

In the 1970s and 1980s, many films were shot at RK studios under RK Films ‘ banner.

GPL will develop the property and spread over 2.2 acres into a mixed-used development project, according to media reports.

The project will offer about 33,000 square meters (about 0.35 million square feet) of salable area including modern residential apartments of different configurations as well as a luxury retail experience.

In a statement GPL 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.