Godrej Properties Ltd., one of India’s top real estate developers, announced the acquisition of Raj Kapoor’s Chembur Bungalow for the development of a premium residential building.
In-depth details about Godrej Properties has purchased Bollywood actor Raj Kapoor’s Mumbai bungalow
The plot is located on Deonar Farm Road in Chembur, Bombay, next to Tata Institute of Social Sciences (TISS), and is regarded one of Chembur’s most prestigious residential areas. The land was purchased from the Kapoor family, the legal heirs of legendary Indian actor, film director, and producer Raj Kapoor.
Godrej Properties acquired R.K. Studios in Chembur, Mumbai, from the Kapoor family in May 2019 to create Godrej RKS, a luxury mixed-use property. The project is scheduled to be completed in 2023.
“We are happy to add this landmark property to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity,” said Gaurav Pandey, MD & CEO of Godrej Properties. Premium developments have been in high demand in recent years. This initiative will help us to expand our presence in Chembur. We will aspire to establish an extraordinary residential community that provides long term value for its people and celebrates the legacy of the land”.
“This residential home in Chembur has been of immense emotional and historical significance to our family,” Randhir Kapoor remarked. We are pleased to work with Godrej Properties once more to carry on this rich tradition in the next phase of development for this location.”
Chembur is a well-established residential area with good infrastructure, including healthcare facilities, educational institutions, entertainment and recreational facilities, and commercial and retail shops. The site is close to the Eastern Express Highway and the Eastern Freeway, which provide good connection to the Bandra Kurla Complex (BKC), Mumbai’s Central and Western neighbourhoods, South Mumbai, Thane, and Navi Mumbai through the Sion-Panvel route.
Godrej Properties provides to the real estate market the Godrej Group concept of innovation, sustainability, and quality. Each Godrej Properties project blends a 126-year tradition of excellence and trust with a dedication to cutting-edge design, technology, and sustainability. Godrej Properties will be India’s largest developer in terms of the value and number of residential sales in FY 2021. Godrej Properties has prioritised sustainable development.