Legend Raj Kapoor’s Mumbai bungalow was acquired by Godrej Properties. On Friday, Godrej Properties Ltd announced that it has purchased the iconic actor, director, and producer Raj Kapoor’s bungalow in Mumbai’s Chembur neighbourhood in order to build a high-end housing project.
According to the company’s regulatory filing, the land was acquired from Raj Kapoor’s legal heirs, the Kapoor family. The price of the deal is not disclosed.
The property is near the Tata Institute of Social Sciences on Deonar Farm Road in Chembur, Mumbai (TISS).
Godrej Properties purchased R K Studios in Chembur from the Kapoor family in May 2019 with plans to create a high-end mixed-use property there called Godrej RKS. This year should see the project be completed.
Legend Raj Kapoor’s Mumbai bungalow acquired by Godrej Properties as Gaurav Pandey, MD and CEO, of 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, he said. This project will allow us to further strengthen our presence in Chembur, Mr Pandey said.
Randhir Kapoor said, “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,” Godrej Properties, which is part of the company conglomerate Godrej Group, is one of the leading real estate developers in the country as it has a significant presence in Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune and Bengaluru.
