Godrej Properties has concluded buying 2.2-acre R K Studios’ land parcel in Mumbai’s Chembur suburb. The company is planning to develop a 3.5 lakh sq ft residential project on this plot.
This project will offer approximately 33,000 square meters (approximately 0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience, Godrej Properties said in a regulatory filing with stock exchanges.
“The site is strategically located on the main Sion-Panvel Road and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential, and commercial spaces in close proximity,” it added.
The studio was built about 70 years ago by Raj Kapoor, who was often called the Greatest Showman of Indian Cinema. Recently. a major fire tore through the studio, gutting decades of film memorabilia.