The iconic Godrej RK Studio has a new owner, Godrej Properties. The Mumbai based real estate giant obtained the studio with a vision to come up with a mixed land project comprising luxury retail spaces and residential apartments. The 2.2-acre site of the studio will offer approx 33, 000 square meters of saleable area and offer close proximity to retail malls, residential and commercial areas and hospitals. The total amount of the deal remains undisclosed but it is believed that the total value of the property is approx INR 200 crores. The famous Chembur based studio was founded by a legendary actor, Raj Kapoor and was jointed owned by his three sons. The RK Studios holds tremendous importance for Kapoor’s family for decades. A fire broke out in the studio in 2017 and caused severe damage to the property. It was then the family decided not to rebuild the studio as it has become economically unviable for them to repair and maintain it, thus the property is put for sale. The studio witnessed the production of Hindi blockbusters like Shri 420, Awaara, Bobby to name a few. Some of the famous Bollywood Blockbusters were shot in between 1970’s and 1980’s in the studio. The Godrej Properties is ecstatic to include Godrej RK Studio Chembur, Mumbai in their existing real estate portfolio. The group feels that purchasing RK Studio is the right move and in sync with the company’s philosophy of making its presence felt in key locations of leading cities. The company has started with the demolition work on the site. Fortunately, the leading builder already owns 2.5 acre of land next to the studio. The cost of the property was INR 175 crores. On this acquisition, even Raj Kapoor shared a heartfelt note, “This prime property at Chembur holds a special place in our hearts. We are happy to choose Godrej Properties as a new owner of the property that will sketch a new roadmap to success”.
Godrej RK Studio: Fast Facts
Chembur is one suburb that is well connected to a rail network, Harbor Line, Lal Bahadur Shastri Marg (LBS) and Eastern Express Highway. The government is planning to develop a monorail network that will connect Chembur to other hotspots of the city in a seamless manner and will become the world’s second-longest monorail corridors. It offers excellent connectivity with Jacob’s Circle, Wadala and business hubs like BKC. The reputed schools, hospital and commercial centers are located in the vicinity.
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