Mumbai: Veteran actor Raj Kapoor’s historic bungalow in Chembur has been sold to Godrej Properties Ltd. For a whopping Rs. 100 crores. This bungalow is situated near Tata Institute of Social Sciences on Deonar Farm Road and belonged to the Kapoor family.
On the lines of high-end mixed use Godrej RKS, the bungalow will now be developed as a premium residential project. The 4,451.56 square meters land was put for sale amost a decade ago and that time its worth was Rs. 30 crores. Several leading real estate developers have been interested in acquiring the bungalow. The selling members of the Kapoor family included Randhir Kapoor, Reema Jain, Natasha Nanda, Nikhil Nanda, and Neetu Kapoor.
Randhir Kapoor said that the bungalow was a great emotional and historical significance to family and they are happy to again associate with Godrej Properties to take forward the rich legacy for the next phase of development for this location.
Earlier in 2019, the Godrej properties also acquired the iconic RK Studios from the Kapoor family on which it is building a premium mixed-use project, which will be delivered this year.