Mumbai: Bollywood legend Raj Kapoor’s bungalow in the city has also been acquired by the country’s leading real estate company Godrej Properties. The bungalow is situated on an acre of land adjacent to the Tata Institute of Social Sciences (TISS) in Chembur. Godrej had also bought Raj Kapoor’s RK Studios two years ago. According to the documents provided by the Godrej company to the authorities, the land was purchased from Raj Kapoor’s descendants.
Pirosha Godrej, Executive Chairman of Godrej Properties, said that a luxury residential complex will be built in the area and an income of Rs 500 crore is expected from it. However, the amount of the land transaction has not been disclosed. Raj Kapoor’s son and actor Randhir Kapoor said Chembur is a property of emotional and historical importance to their family.
He added that Godrej is happy to join hands again with the company to take its heritage property to another stage of development. The Godrej Company has stated that after completing the construction of the RK Studio area acquired in 2019, the houses will be provided soon.