Godrej Properties Limited has recently acquired legendary Bollywood actor Raj Kapoor’s Chembur bungalow for Rs 100 crore. The property also referred to as RK Cottage, is located on Chembur’s Deonar Farm Road, Mumbai and has an area of 4265.50 square meters. The Deonar Cottage, once known to host prominent members of the Hindi film fraternity, will be transformed into a high-end residential building.
According to official documents obtained by Zapkey.com, the legal transfer of the bungalow was signed by Randhir Kapoor, Reema Jain, his grandchildren Nikhil Nanda and Nitasha Nanda, and Neetu Kapoor, the wife of late actor Rishi Kapoor.
GPL’s most recent acquisition is located next to RK Films and Studios, which spans 95,832 sq ft and was purchased by the business in May 2019 for an approximate price of between Rs 1.8- 2 billion. The company plans to build luxury retail and residential complexes on this property. The Godrej RKS project is scheduled to be finished in 2023.
After finalising the transaction, Randhir Kapoor stated, “This home estate in Chembur has been of immense historical and emotional importance to our family. We are pleased that the Godrejs will carry on this rich history for the upcoming stage of development.”
According to author Madhu Jain’s book “The Kapoors: The First Family of Indian Film,” RK Cottage, which was constructed before the studio, featured a room in the back that was referred to as Nargis’s chamber. Her clothing and dishes were kept there as a private sanctuary.
Jain referred to it as Raj Kapoor’s sanctum sanctorum and stated: “The real Raj Kapoor lived here. It served as a temple for his inner self. The cottage, which was sparse and cosy, contained his most prized possessions.” A number of family weddings and lavish meals were also held here, demonstrating the renowned Kapoor hospitality.
Gaurav Pandey, MD and CEO of Godrej Properties, after the acquisition, said that the requirement for luxury properties has been high during the past few years. He further stated Godrej Properties will be able to further establish its relevance in Chembur thanks to this initiative. Their goal is to develop a superb high-end residential neighbourhood that benefits its people long-term and honours the site’s history.
Godrej has completed a total of three undertakings in Chembur namely Godrej Prime, Godrej Serenity and Godrej Central.
Ritesh Mehta, Senior Director and Head – West and North India, Residential Services, JLL, elaborated on the gentrification of the northern suburbs of Mumbai and said, “The Chembur and Deodar Farm Road has come up as an excellent residential neighbourhood for homes priced between Rs 8-15 crores, mainly 3BHK and 4BHK apartments. It offers excellent connectivity to Central Mumbai, the Bandra Kurla Complex and South Mumbai via the Eastern Freeway. Because of this, several famous real estate developers have business there.”
