The Godrej Properties has acquired the iconic bungalow of legendary showman Raj Kapoor at Chembur in Mumbai. The bungalow would be developed as a premium residential project.
In May 2019, Godrej Properties had acquired R K Studios in Chembur from the Kapoor family to develop a premium mixed-use project, Godrej RKS, which is expected to be delivered in 2023.
The bungalow of Raj Kapoor is located at Deonar Farm Road in Chembur, adjacent to Tata Institute of Social Sciences (TISS), and is considered to be one of the most premium residential neighbourhoods of Chembur.
The land was purchased from the Kapoor family, the legal heirs of Raj Kapoor.
“This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to once again associate with Godrej Properties to take forward this rich legacy for the next phase of development for this location,” said Randhir Kapoor, the son of Raj Kapoor.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are pleased to add this iconic project to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity. The demand for premium developments has been strong over the past few years. This project will allow us to further strengthen our presence in Chembur. We will aim to build an outstanding residential community that creates long term value for its residents and celebrates the legacy of the site."
(Published 17 February 2023, 04:29 IST)
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