The demolition of RK Studio, the famed dream factory of the legendary film-maker Raj Kapoor in suburban Chembur here, has begun.
Founded by Raj Kapoor in 1948, the studio is witness to the making of several films produced by the Kapoor family over the decades.
Godrej Properties, the Godrej group’s real estate company, has acquired the iconic RK Studios property located in suburban Chembur, established by Bollywood legend Raj Kapoor in 1948. This will permanently draw the curtains on the once-historic studio with the new project on the 2.2-acre site offering approximately 33,000 sq metres of saleable area comprising residential apartments of various configurations as well as luxury retail space.
On September 16,2017, a massive fire broke out on the sets of dance reality show Super Dancer at the studio, destroying the ground floor of the construction. After the massive fire, the Kapoor family had been finding it hard to sustain the ever-increasing cost of maintaining the iconic studio. The value of the property at market price is estimated at around â‚¹200 crore. However, the actual cost of the deal wasn’t disclosed.
Leading realty players though point out that the current commercial property rates in and around Chembur are in the range of Rs 24,000-Rs 28,000 per sqft depending on the locality. The plot is located on the Sion-Panvel highway, an arterial road that connects the southern tip of the city with many townships of Navi Mumbai.
"The demolition work started few days back. It is in process. We don't know how long it will take to demolish as we have no clarity on what is being built there," Kapoor family sources told PTI.
Godrej Properties plans to develop luxury residential complex. As per other reports the mega project that will take its place starts in 2020.
RK Studio was the venue for several movies including Aag, Barsaat, Awaara, Shri 420, Jis Desh Mein Ganga Behti Hai, Mera Naam Joker, Bobby, Satyam Shivam Sundaram and Ram Teri Ganga Maili.