The iconic RK Films and Studios which was built by the late Bollywood actor and producer Raj Kapoor nearly 70 years ago has finally sold to Godrej Properties.
Spread across 2.2 acres, the developer can build approximately 33,000 square meters (approximately 0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience,” the company said in a statement.
However, the company did not disclose the deal value.
RK Studios finally sold to Godrej Properties
“We are happy to add this iconic site in Chembur to our development portfolio. This fits well with our strategy of deepening our presence in key locations across India’s leading cities,” said Pirojsha Godrej, executive chairman, Godrej Properties, in the filing.
The company said the site was strategically located on the main Sion-Panvel Road in Mumbai and offers a well developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential, and commercial spaces in close proximity.
“We will seek to ensure we celebrate the remarkable legacy of this site with the goal of delivering an outstanding lifestyle for its residents,” Godrej said.
Raj Kapoor’s son Randhir Kapoor of R.K. Studios, in a statement, said, “This property in Chembur has been of tremendous significance to my family over the many decades that R.K. 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 legacy.”
The studio which is located in Chembur was in the news last year in September when a major fire broke out. Raj Kapoor’s wife and sons Randhir, Rishi and Rajiv Kapoor along with daughters Ritu Nanda and Rima Jain have unanimously decided to sell the studio. The Kapoor family took this decision with a heavy heart.
The films made under the RK banner include Aag, Barsaat, Awaara, Shri 420, Jis Desh Mein Ganga Behti Hai, Mera Naam Joker, Bobby, Satyam Shivam Sundaram, Ram Teri Ganga Maili, among others.
The last film made under the banner was Rishi Kapoor-directed “Aa Ab Laut Chalen”.