Godrej RKS is the land where two legacies meet. One of Godrej Properties while the other is of R K Studios. This is a land that has history of great cinematic paintings. It has also gone on to create unforgettable epics for generations to come.
Talking about how and why they decided to sell the studio, Randhir Kapoor said, “We sold the property about six-seven months ago. It was a decision that we had taken and it was only a matter of time before we would execute things. It was becoming difficult to manage it, although we did everything for its upkeep.”
Now, one will want to know as to how much was the Studio land sold for. According to reports the sale amount was anywhere between Rs 150 crores to Rs 200 crores. The iconic land parcel measured 9,018.85 sq mts.
At the centre of it all, one can see that both are storytellers of repute. While the RK legacy is that you have the legendary R K Studios who were storytellers by trade in the sense that they went on to create many stories that we have all grown up watching.
On the other hand the Godrej legacy is one that has told stories of honesty, innovation and above all trust. With a number of successfully delivered projects such as Planet Godrej among a host of successful launches like the flagship mixed one development namely The Tree, Vikhroli.
Godrej Properties has risen to become one of the leading players in real estate and every masterpiece is etched poetically in brick and stone.
And as the two great legacies meet, one will find that they pave the way for a potentially great storyteller and that is you. Godrej RKS with its Bombay Art Decco inspiration and plethora of luxuries creates a quintessential backdrop with every inch and corner of the property. It’s the perfect stage for one to tell his story.
Godrej Properties, the real estate development company of Godrej Group has acquired the 2.2-acre land of the R K Studios in Chembur. The company would develop a mixed-use project, offering luxury flats and retail space. While the deal size hasn’t been disclosed, the value of the property at market price is estimated at around Rs. 200 crore.
After a fire engulfed the precincts of the R K Studios, nothing went well with the studio lying unused for quite a long time. Incidentally, the studio had a rough start as its first movie Aag (1948) did not do well at the box office.
Talking about how and why they decided to sell the studio, Randhir Kapoor said, “We sold the property about six-seven months ago. It was a decision that we had taken and it was only a matter of time before we would execute things. It was becoming difficult to manage it, although we did everything for its upkeep.”
Sharing his father Raj Kapoor’s belief in life, he added, “My father believed in moving on with time; he always said that the show must go on, come what may. That is exactly what we did when it came to RK Studios. We all have an emotional attachment with what our father had left for us, but this was the need of the hour. The property was in good hands in the past and it continues to be in good hands even now. My best wishes are with the new owners. I hope they will respect the legacy of the land that they have bought from us.”
Godrej Properties had said in a statement on Friday, “Spread across 2.2 acres, this project will offer 33,000 square metres (0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience.”
RK Studios was set up by showman Raj Kapoor in 1948 and was given out on rent for film and TV shoots but was lying vacant after the massive fire in September, 2017 gutted it down.
Godrej Properties has acquired the iconic RK Studios property located in suburban Chembur, established by Bollywood legend Raj Kapoor in 1948.
Godrej Properties’ new project on the 2.2-acre site will offer approximately 33,000 sq metres of saleable area comprising residential apartments of various configurations as well as luxury retail space.
The studio has seen the production of Hindi blockbusters such as Awaara, Shri 420, Satyam Shivam Sundaram and Bobby.
The Kapoor family had been finding the cost of maintaining the iconic studio to be too high. A massive fire that broke out at the property two years ago made matters worse, leaving a portion of the studio gutted.
“This property in Chembur has been of tremendous significance to my family over the many decades that RK Studios operated from there. We are excited to have chosen Godrej Properties to script a new chapter for this location and build upon its rich history,” said Randhir Kapoor, the eldest son of Raj Kapoor.
The property represents prime real estate, with close proximity to hospitals, retail malls and residential and commercial space.
Prime real estate
“We are happy to add this iconic site in Chembur to our 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,” said Pirojsha Godrej, Executive Chairman, Godrej Properties.
RK Studios has produced Hindi blockbusters such as Awaara, Shri 420, Bobby and Satyam Shivam Sundaram
“This project will offer around 33,000 sq. mt. or about 0.35 million sq.ft. of saleable area comprising modern apartments and a luxury retail experience,” said Godrej Properties in a regulatory filing with stock exchanges. “The site is strategically located on the Sion-Panvel Road and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential, and commercial spaces in close proximity,” it added.
