Godrej Properties Ltd (GPL) on Friday May 03,2019 said it has bought Mumbai's iconic RK Studios in Chembur for an undisclosed amount.
The famous RK studios was founded by legendary film actor Raj Kapoor and was jointly owned by his predecessors.
After a massive fire in 2017, it was decided by the Kapoors that it was no longer economically viable to rebuild the studios as the fire had caused severe damage to the property.
A lot of films were shot at RK studios in 1970's and 1980's under the banner of RK Films.
GPL will develop the property and spread across 2.2 acres, into a mixed-used development project.
The project will approximately offer 33,000 square meters (approximately 0.35 million square feet) of salable area comprising modern residential apartments of various 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.
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