Documents accessed by Squarefeatindia.com has revealed that the bungalow deal which took place on Thursday was signed between Godrej and the Kapoor family for a consideration of ₹100 crore.
On February 16, Mumbai witnessed yet another big real estate deal, this one comprising of Legendary actor late Raj Kapoor’s bungalow, being sold to Godrej properties.
The site is located at Deonar Farm Road, Chembur, Mumbai, adjacent to Tata Institute of Social Sciences (TISS) and is considered to be one of the most premium residential neighbourhoods of Chembur. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor – Legendary Indian actor, film director, and producer.
In May 2019, Godrej Properties had acquired R.K. Studios in Chembur, Mumbai, from the Kapoor family, to develop a premium mixed-use project, Godrej RKS. The project is expected to be delivered in 2023.
Registration documents reveal that, that from Kapoor family, Randhir Kapoor, Rima Jain, Nitasha Nanda, Nikhil Nanda and Niti Rishi Kapoor, signed the documents. The total area of the bungalow mentioned in the agreement is 4451.56 Sq Mt.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are pleased to add this iconic project to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity. The demand for premium developments has been strong over the past few years. This project will allow us to further strengthen our presence in Chembur. We will aim to build an outstanding residential community that creates long term value for its residents and celebrates the legacy of the site”.
Randhir Kapoor, said, “This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to once again associate with Godrej Properties to take forward this rich legacy for the next phase of development for this location.”
The stamp duty of ₹6 crore was paid for the registration of the document.
In May 2019, Godrej Properties had acquired R.K. Studios in Chembur, Mumbai, from the Kapoor family, to develop a premium mixed-use project, Godrej RKS. The project is expected to be delivered in 2023.
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