Godrej Properties to script a new chapter for RK studios

Godrej Properties to script a new chapter for RK studios

Godrej Properties Ltd. purchased Mumbai’s iconic RK Film Studio, named after the legendary Bollywood actor Raj Kapoor on Friday. The land will now make way for a real estate project. According to media reports, it purchased the 2.2 acres of land from the Kapoors for Rs 190-200 crore.

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Godrej Properties to script a new chapter for RK studios

Godrej Properties said that the land will be developed into a mixed-use project that will have approximately 33,000 square meters or 350,000 square feet of saleable area. It would comprise of residential apartments and retail spaces.

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Founded in 1948, the studio land is located on the Sion-Panvel road. “We are happy to add this iconic site in Chembur to our development portfolio,” Pirojsha Godrej, executive chairman of Godrej Properties said in a statement. “This fits well with our strategy of deepening our presence in key locations across India's leading cities.”

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Godrej Properties to script a new chapter for RK studios

The over seven-decade-old RK Studio produced some iconic Hindi films like Jis Desh Mein Ganga Behti Hai (1960), Mera Naam Joker (1970), Ram Teri Ganga Maili (1985), among others.

The studio was engulfed in a massive fire on Sep. 16, 2017 during the shoot of a television reality show. Kapoor family, as per media reports, decided against renovating it, claiming it wasn't economically viable.

- PTC NEWS