R K Studios sold to Godrej Properties, confirms Randhir Kapoor

New Delhi: Real estate firm Godrej Properties announced Friday the acquisition of the landmark RK Studios land in Chembur, Mumbai, where it would develop mixed-use rental projects, luxury apartments and retail spaces. sale.

Godrej Properties, part of the Godrej Group, announced the creation of a new project in Chembur, Mumbai. "Spread over 2.2 hectares, this project will provide approximately 33,000 square meters of retail space including modern residential apartments of different configurations as well as a luxury retail experience," said the company in a statement. .

The company did not disclose the value of the transaction. The executive chairman of Godrej Properties, Pirojsha Godrej, said the company has added this iconic Chembur site to its development portfolio. "This fits well in our strategy to strengthen our presence in major Indian cities, and we will celebrate the remarkable legacy of this site with the goal of providing an exceptional lifestyle to its guests." residents, "he added. [19659003] Randhir Kapoor of RK Studios said, "This property in Chembur has been of considerable importance to my family over the many decades that RK Studios has been operating from there." "We have … chosen Godrej Properties to write a new chapter for this place and build on its rich history," said Kapoor, the eldest son of actor Raj Kapoor. The site is strategically located on the Sion-Panvel main road and offers an extremely well developed social and civic infrastructure including many schools, hospitals, shopping centers, residential and commercial spaces nearby, said the real estate company.

Godrej Properties generally links with landowners to develop real estate projects, but sometimes he also opts for the outright purchase of a strategic parcel, he added.

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