Godrej properties buy iconic R K studios, will build luxury flats

The 71-year-old iconic RK studios are no longer the property of the Kapoor Khandaan. They have sold it off to Godrej properties and they will now develop luxury flats on this vast property. They will build residential complex-cum-shopping plaza on this huge property that spread over 2.20 acres (roughly, 100,000 sq. feet) in Chembur.

"Spread across 2.2 acres, this project will offer approximately 33,000 square meters (about 0.35 million square feet) of the saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience," the Godrej group said in a statement.

Godrej Properties Executive Chairman Pirojsha Godrej said the company has added this iconic site in Chembur to its development portfolio.

"This fits well with our strategy of deepening our presence in key locations across India's leading cities. We will seek to ensure we celebrate the remarkable legacy of this site with the goal of delivering an outstanding lifestyle for its residents," he added.

Randhir Kapoor of R K Studios said, "This property in Chembur has been of tremendous significance to my family over the many decades that R K Studios has operated from there."

"We...have chosen Godrej Properties to script a new chapter for this location and build upon its rich history," said Kapoor, the eldest son of late actor Raj Kapoor.