Godrej Properties Will Develop Godrej RKS on Raj Kapoor Bungalow Land at Chembur

Godrej Properties Limited (GPL), the real estate division of the Godrej Group, will shortly commence construction on a residential real estate project with a sales potential of 2 lakh square feet. The land parcel was obtained in February 2023 through the purchase of Raj Kapoor (RK)'s bungalow in the Chembur area of Mumbai.

The sales book value of the development constructed on RK's bungalow is estimated to be Rs 500 crore, per the regulatory filing the company submitted to the stock exchange.

In addition, the organisation intends to enter the Hyderabad real estate market, GPL Executive Chairperson Pirojsha Godrej disclosed on November 2, 2023, during the Q2 FY24 earnings conference call.

RK Bungalow GPL announced the acquisition of RK's Bungalow in the Chembur neighbourhood of Mumbai for the construction of a high-end residential complex on February 17, 2023. The land was acquired from the Kapoor family, who are the lawful successors of the legendary Indian actor, film director, and producer Raj Kapoor, according to a statement released by the corporation.

Adjacent to the Tata Institute of Social Sciences (TISS), the site is situated on Deonar Farm Road in Chembur, Mumbai, and is regarded as one of the most prestigious residential areas in Chembur. Likewise, GPL acquired R K Studios from the Kapoor family in May 2019 in Chembur, Mumbai, with the intention of constructing a high-end mixed-use development. Godrej RKS.