Iconic R.K. Studios of Mumbai purchased by Godrej Properties Ltd

While it was reported earlier that the iconic R.K. Studios in Mumbai was up for sale, Godrej Properties have reportedly bought the property for an undisclosed amount. Godrej Properties Ltd (GPL) said that they have bought the iconic property found by the legendary actor Raj Kapoor. The company will be developing the property that is spread across 2.2 acres in to a project spanning 0.35 million sq.ft of saleable area that comprises of modern residential apartments of various configurations as well as a luxury retail experience.

A leading daily had earlier reported that the company was in talks with the Kapoor family to buy the property for nearly INR 200 crores. R.K. Studios was the headquarters of R.K. Films which was a production company found by Raj Kapoor. It used to be a hub for film shoots particularly during the 70 and 80s era. Pirojsha Godrej, the executive chairman of Godrej Properties in a filing said, “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”.

The company added that the site was strategically located in the main Sion-Panvel Road in Mumbai and offers a well developed social civil infrastructure with many hospitals, schools, retail malls, residential and commercial spaces in close proximity.

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