R K Studios will be turned into a luxury housing project, says Godrej Properties

Realty firm Godrej Properties on Friday launched a luxury housing project at iconic R K Studios' land in Mumbai. In May last year, the company had announced the acquisition of the land in Chembur to develop mixed-use project comprising luxury flats and retail space.

Godrej Properties, part of Godrej group, had said that the project spread across 2.2 acre would offer about 3.5 lakh sq ft of saleable area. The company had not disclosed the deal value.

The company on Friday said it is launching a luxurious residential development at RK Studios, Chembur.

Godrej Properties did not mention total housing units to be developed and the investments to be made in the project.

Pirojsha Godrej, Executive Chairman, Godrej Properties said, "We are thrilled to launch Godrej RKS at the iconic RK Studios in Chembur. We will seek to ensure we celebrate the remarkable legacy of this site with a landmark development that delivers an outstanding lifestyle for its residents."

Godrej RKS is strategically located on the main Sion-Trombay Road.

Founded by Raj Kapoor in 1948, the studio is witness to the making of several films produced by the Kapoor family over the decades.

After selling this studio last year, Randhir Kapoor of R K Studios had said: "This property in Chembur has been of tremendous significance to my family over the many decades that R K Studios has operated from there."

"We...have chosen Godrej Properties to script a new chapter for this location and build upon its rich history," said Kapoor, the eldest son of late actor Raj Kapoor.