Mumbai’s Iconic RK Studios Gets A New Owner
The space will now make way for a real estate project.
Mumbai’s iconic RK Film Studio, named after the legendary Bollywood actor Raj Kapoor, will now make way for a real estate project.
Godrej Properties Ltd. purchased the 2.2 acres of land from the Kapoors for Rs 190-200 crore, people aware of the transaction said on condition of anonymity.
The land, Godrej Properties said, will be developed into a mixed-use project that will have approximately 33,000 square meters or 350,000 square feet of saleable area comprising residential apartments and retail spaces.
Founded in 1948, the studio land is located on the Sion-Panvel road. “We are happy to add this iconic site in Chembur to our development portfolio,” Pirojsha Godrej, executive chairman of Godrej Properties, said in a statement. “This fits well with our strategy of deepening our presence in key locations across India's leading cities.”
The over seven-decade-old RK Studio produced some iconic Hindi films like Jis Desh Mein Ganga Behti Hai (1960), Mera Naam Joker (1970), Ram Teri Ganga Maili (1985), among others.
The studio was engulfed in a massive fire on Sep. 16, 2017 during the shoot of a television reality show. Kapoor family, as per media reports, decided against renovating it, claiming it wasn't economically viable.
“We're excited to have chosen Godrej Properties to script a new chapter for this location and build upon its rich history,” Raj Kapoor’s son, Randhir Kapoor, was quoted as saying in the statement.