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Godrej Properties announced Friday that it has purchased the iconic R K Studios in the Chembur area of Mumbai for an undisclosed amount. It's in the same studio that Raj Kapoor's latest films were shot.
Spread over 2.2 hectares, the developer can build approximately 33,000 square meters (approximately 0.35 million square feet) of retail space.
The Mumbai-based property developer plans to build a mixed-use project that includes modern homes and luxury businesses. The plot is strategically located on the Sion-Panvel main road and the Kapoor family is in talks with many interested parties, said the same source.
Our development portfolio fits perfectly with our strategy to strengthen our presence in major Indian cities. We will make sure to celebrate the remarkable legacy of this site with the goal of providing an exceptional lifestyle to its residents. "
Randhir Kapoor, of RK Studios, said," This property of Chembur has been of great importance to my family during the many decades of operation of RK Studios. We are delighted to have chosen Godrej Properties to write a new chapter about its location and rich heritage. "
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