Godrej Properties had also acquired valuables from the studio that they purchased last year.
'Bollywood'-themed apartments coming up at the RK Studios plot
Mumbai - 16 Jan 2020 15:47 IST
Last May, the iconic RK Studios in Mumbai’s Chembur locality was acquired by Godrej Properties. The real-estate firm said it would be creating luxury apartments there. Now details have emerged about the apartments that would be built in the course of the next few years.
As per a source, a 15-storey luxury tower will be erected on the two acres of land that belonged to RK Studios. The tower will have three bedroom hall kitchen (BHK) and four BHK apartments along with penthouses on the fourteenth and fifteenth floors.
Given the RK Studios legacy, Godrej Properties is offering 'Bollywood'-themed flats. The source said that along with the land, the real-estate firm had purchased articles and accessories that were in the studio's possession. These will be used in the interiors of the apartments to add a touch of 'Bollywood', as mainstream Hindi cinema is often called.
Excavation at the site is scheduled to begin next month and possession of flats will be given by December 2023. The 3 BHK apartments will cost Rs7.5 crore, all inclusive, a price that is almost double the price of comparable properties nearby.
When Godrej Properties had acquired the land last year, the company's executive chairman had told the Press Trust of India news agency, “This fits well with our strategy of deepening our presence in key locations across India's leading cities. We will seek to ensure we celebrate the remarkable legacy of this site with the goal of delivering an outstanding lifestyle for its residents.”
In 2018, when the Kapoor family had decided to sell off the studio, Randhir Kapoor had said it was no longer economically viable to run the studio, especially after the mysterious fire that broke out in 2017.
Kapoor had told The Quint website, “With the state of roads and traffic today, no actor comes to Chembur to shoot at this studio. They would rather go to Film City. So, with a very heavy heart, we have decided to let it go. My whole family is very sad, but there’s no other way.”