RK Studios Sold To Godrej Properties; Will Be Made Into A Residential Complex

It has happened. The iconic RK Studios has been sold to Godrej Properties for an undisclosed amount

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RK Studios Sold To Godrej Properties; Will Be Made Into A Residential Complex
It was in August 2018 that the Kapoors had opened up on their plans of selling the iconic RK Studios of 2.2 acre property due to its high-maintenance cost that they were not able to cope up with. By October, rumour mills suggested that they were in talks with Godrej Properties for its sale.

Now, confirmed reports suggest that Godrej Properties has bought RK Studios for an undisclosed amount. A top executive revealed the company’s plans of converting it into a real estate project, like a residential complex.  Pirojsha Godrej, Executive Chairman, Godrej Properties said in a statement, "We are happy to add this iconic site in Chembur to our development portfolio. 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. This fits well with our strategy of deepening our presence in key locations across India's leading cities. We will seek to ensure we celebrate the remarkable legacy of this site with the goal of delivering an outstanding lifestyle for its residents."

The eldest son of Raj Kapoor, Randhir also confirmed its sale to Godrej Properties and said in a statement, “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.”

Image Source:lightnepali.com
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