One of India’s top real estate developers, Godrej Properties Ltd., said today that it had purchased Raj Kapoor’s Bungalow in Chembur in order to create a high-end residential complex.
The location is situated on Deonar Farm Road in Chembur, Bombay, close to the Tata Institute of Social Sciences (TISS), and is regarded as one of Chembur’s most affluent residential areas. The Raj Kapoor family, the legitimate heirs of the renowned Indian actor, director, and producer Raj Kapoor sold the land to the buyer.
Godrej Properties purchased R.K. Studios in Chembur, Mumbai, from the Kapoor family in May 2019 with plans to create a high-end mixed-use property there called Godrej RKS. 2023 is the projected completion date for the project.
“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 site’s legacy,” said Gaurav Pandey, MD & CEO of Godrej Properties.
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.”
Chembur is a well-established residential area with a decent infrastructure that includes nearby commercial and retail establishments, healthcare facilities, educational facilities, amusement & recreation centres, and educational facilities. At proximity to the Eastern Express Highway and Eastern Freeway, the property offers excellent connection to the Bandra Kurla Complex (BKC), Mumbai’s Central and Western Suburbs, South Mumbai, Thane, and Navi Mumbai through the Sion-Panvel Highway.
