Godrej Properties buys the iconic RK Studios

Godrej Properties Ltd. (GPL) announced Friday that it has bought the land from RK Studios. The studios, previously owned by Kapoors, once housed the entire film industry, from actors to technicians under one roof.

In a statement, Godrej Properties stated, "This 33,000 square meter (0.35 million square foot) retail floor area includes modern residential apartments of various configurations and experience in luxury retail. "

Speaking of the sale of RK Studios to Godrej Properties, Randhir Kapoor told indianexpress.com," We concluded this agreement six months ago. Everything is finalized. RK Studios is an integral part of the Kapoor family and it was time to move on. "The actor refused to give more details on the agreement.

In 2018, the Kapoors announced their decision to sell RK Studios. Rishi Kapoor had previously stated that this decision was made following a fire that had destroyed the main shooting ground, taking away memories of the film that the family had preserved for decades. It included old posters, Mera Naam Joker's puppets (1970), Awara's tramp shoes (1951) and several costumes. The Kapoors argued that rebuilding the floor and maintaining the studio would be too expensive and returns would be minimal.

RK Studios, also the headquarters of the film production company RK Films, was founded by Raj Kapoor in 1948. RK Films has financed films such as Awaara (1951), Shree 420 (1955), Mera Naam Joker (1970) ) and Bobby (1973), among others

Previously, Randhir Kapoor had spoken to Quint about the decision to sell the studio. He said: "With the current state of roads and traffic, no actor comes to Chembur to shoot in this studio. They would prefer to go to Film City. So, very heavy heart, we decided to give up. My whole family is very sad, but there is no other way. "