Godrej Properties acquire legendary actor Raj Kapoor’s bungalow in Chembur, Mumbai

Mumbai : Godrej Properties Ltd announced that it had purchased the Bungalow in Chembur, Mumbai, owned by legendary actor, director, and producer late Raj Kapoor in order to build a high-end residential complex there.

In a regulatory filing, the company disclosed that it had acquired the land from Raj Kapoor’s heirs, the Kapoor family.Value of the transaction is unknown at this time.

Raj Kapoor’s bungalow is located on Deonar Farm Road, in the Chembur neighbourhood of Mumbai, right beside the Tata Institute of Social Sciences (TISS).

Godrej Properties purchased R K Studios from the Kapoor family in May 2019 with the intention of constructing the premium mixed-use project Godrej RKS in the Chembur neighbourhood.

Delivery of the project is anticipated this year.

Godrej Properties’ MD and CEO Gaurav Pandey 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.”

He claimed that, over the past few years, there has been a significant increase in the demand for upscale new construction.

Mr. Pandey explained that with the completion of this project, the company’s roots in Chembur would grow even deeper.

Randhir Kapoor said, “This residential property in Chembur has been of great emotional and historical significance to our family. In order to carry on this illustrious history into the site’s next stage of development, we are pleased to renew our partnership with Godrej Properties.” One of the most prominent real estate firms in the country is Godrej Properties, which is a division of the Godrej Group.