The Bungalow of Raj Kapoor
On 17 February Godrej Properties Ltd declared that it had acquired legendary film actor, director, and producer Raj Kapoor’s lavish Bungalow at Chembur in Mumbai. The plan is to develop a luxury housing project on the property.
The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. The deal value has not been disclosed. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company gives in the statement.
Statements from Kapoor Family
Actor Randhir Kapoor, the eldest son of Raj 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 this location’s next phase of development.” The site is located at Deonar Farm Road, Chembur, Mumbai, adjacent to the Tata Institute of Social Sciences (TISS).
In May 2019, Godrej Properties acquired R K Studios in Chembur from the Kapoor family. The reason is to develop a premium mixed-use project Godrej RKS. The project is expected to be delivered in the fourth quarter of this year.
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Pleased to add this iconic project: Godrej CEO
Gaurav Pandey, Managing Director 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.” This project will allow us to strengthen our presence in Chembur further, Pandey conveyed.
Chembur is one of the established and premium residential locations in the Mumbai suburbs. The site is close to the Eastern Express Highway and Eastern Freeway, which connects the area to Bandra Kurla Complex, Central and Western suburbs of Mumbai, South Mumbai, Thane, and Navi Mumbai via the Sion-Panvel highway. Godrej Properties, part of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.
