Mumbai. The prestigious RK Film & Studio, which has produced many superhit films in the world of Hindi entertainment, is now a thing of the past. The studio, located in the Chembur area of ​​Mumbai, was bought by Godrej Properties. The new company will now build tall buildings and shopping complexes here. The studio was founded in 1948 by Bollywood’s ‘showman’ Raj Kapoor. The studio was named after Raj Kapoor’s own name RK Studio. Godrej Properties will now build luxury flats and shopping complexes here.

At present Godrej Properties has not given any information about the price of the contract. However, it is expected to cost 50 to 60 crore rupees. Because the studio is spread over 2.2 acres (about 3.5 million square feet). According to real estate experts, the current price of land in this area is around Rs 24,000-28,000 per sq ft.

Pirojsha Godrej, executive chairman of Godrej Properties Limited (GPL), said the alluring land would go a long way in consolidating the company’s presence in key areas of major cities. He said the company would build flats here so that the residents could enjoy a luxurious life.

At the same time, Raj Kapoor’s eldest son and actor Randhir Kapoor said, “This property in Chembur has been of great emotional importance to my family for many decades from where RK Studios has been operating. And will build its rich history.

Why did the Kapoor family sell the studio?

The Kapoor family had an emotional attachment to RK Studios. After Raj Kapoor’s death in 1988, his eldest son Randhir Kapoor took over. But in September 2017, the studio caught fire. The studio has been closed ever since. Rishi Kapoor talked about rebuilding it with new technology.

However, Randhir Kapoor then said that it would not be financially viable to bring it back to its previous form. Rishi Kapoor said about the decision to sell RK Studios, ‘We have made this decision with a stone in our heart and thought.

“We are all very close brothers but can our sons and daughters do that?” We don’t want any courtroom drama to be a sign of our father’s love. There is a big reason why this studio, built in Eastern Mumbai, is no longer the choice of filmmakers. Most people now prefer to shoot in Andheri and Goregaon.