November 29, 2023: Legendary actor Raj Kapoor’s bungalow in Chembur, Mumbai, will be converted into a luxury residential project to be developed by Godrej Properties, according to media reports.
Godrej Properties (GPL), the real estate division of the Godrej Group, will soon launch a residential real estate project of two lakh square foot (sqft) of sales potential on the land parcel. In February 2023, the developer acquired the land parcel by purchasing Raj Kapoor (RK)’s bungalow in the Chembur area of Mumbai. According to the regulatory filing made by the company on the stock exchange, the project built on RK’s bungalow is estimated to have a sales booking value of Rs 500 crore.
The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, legendary Indian actor, film director and producer, the company had said in a statement as cited in a Moneycontrol report.
Located at Deonar Farm Road, Chembur, Mumbai, the site is adjacent to the Tata Institute of Social Sciences (TISS) and is considered to be one of the most premium residential neighbourhoods of Chembur.
In May 2019, Godrej Properties acquired RK Studios in Chembur, Mumbai, from the Kapoor family to develop a premium mixed-use project, Godrej RKS.
Chembur is an upscale residential neighbourhood in central Mumbai and is well-connected to South Mumbai, BKC, Powai, Thane and Navi Mumbai.
Celebrity homes that were sold at premium prices
In 2014, legendary actor Rajesh Khanna’s Carter Road bungalow was sold for over Rs 90 crore. In 2002, actor Sunil Dutt’s bungalow located in Pali Hills, Bandra, was converted into Imperial Heights apartments. His son Sanjay Dutt owns four apartments worth Rs 100 crore in the building.
In May 2022, K Raheja Corp Homes bought BR House, the iconic bungalow of veteran filmmaker BR Chopra. Located over around one-acre land parcel, the developer is redeveloping the property. The project, in Mumbai’s Juhu is named Maestro.
See also: Godrej Properties acquires Raj Kapoor’s Bungalow in Chembur, Mumbai
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