Mumbai: Realty Major, Godrej Properties Ltd. (GPL)on Friday said that it has acquired Raj Kapoor’s Bungalow in Chembur to develop a premium residential project.
The site is located at Deonar Farm Road, Chembur, Mumbai, adjacent to Tata Institute of Social Sciences (TISS) and is considered to be one of the most premium residential neighbourhoods of Chembur. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor – Legendary Indian actor, film director, and producer.
In May 2019, Godrej Properties had acquired R.K. Studios in Chembur, Mumbai, from the Kapoor family, to develop a premium mixed-use project, Godrej RKS. The project is expected to be delivered in 2023.
Gaurav Pandey, MD & CEO, 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 further strengthen our presence in Chembur. We will aim to build an outstanding residential community that creates long term value for its residents and celebrates the legacy of the site”.
Randhir 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 the next phase of development for this location.”
