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MUMBAI: Godrej Properties announced Friday its intention to redevelop the 2.2-acre RK Studios located in Chembur, Mumbai into residential apartments and luxury retail spaces. The site is located on the main road Sion-Panvel.
According to market sources, the transaction was concluded at Rs. 180 crore, although neither party mentioned the actual selling price.
Pirojsha Godrej, Executive Chairman of Godrej Properties, said, "We are pleased to add this iconic Chembur site to our development portfolio. This fits well with our strategy to strengthen our presence in key locations in major Indian cities. "
Veteran actor Randhir Kapoor, whose family owned the studio, said," This property of Chembur has been of paramount importance to me and my family over the many decades that RK Studios has operated. We are very pleased to have chosen Godrej Properties to write a new chapter for this site and take advantage of its rich history. "
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According to market sources, the transaction was concluded at Rs. 180 crore, although neither party mentioned the actual selling price.
Pirojsha Godrej, Executive Chairman of Godrej Properties, said, "We are pleased to add this iconic Chembur site to our development portfolio. This fits well with our strategy to strengthen our presence in key locations in major Indian cities. "
Veteran actor Randhir Kapoor, whose family owned the studio, said," This property of Chembur has been of paramount importance to me and my family over the many decades that RK Studios has operated. We are very pleased to have chosen Godrej Properties to write a new chapter for this site and take advantage of its rich history. "
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