Godrej Properties acquires Raj Kapoor’s 1-acre bungalow to develop luxury housing project

Godrej Properties Ltd recently acquired Raj Kapoor’s sprawling 1-acre bungalow at Chembur, Mumbai. Godrej would use the property for developing a luxury housing project worth Rs 500 crore. The company has bought the property from Raj Kapoor’s legal heirs.

Raj Kapoor’s bungalow is located at Deonar Farm road, adjacent to the Tata Institute of Social Sciences (TISS). Pirojsha Godrej, Executive Chairman of Godrej Properties, however, did not reveal the deal amount. Gaurav Pandey, MD and CEO of Godrej Properties expressed happiness over the deal and said that he looked forward to starting an iconic project on the property.

Pandey further said that the demand for luxury housing projects and premium developments has grown steadily over the last few years. Randhir Kapoor commented on the deal too and said that the bungalow was of huge emotional and historical value to the Kapoor family. Kapoor also said that he is happy to have associated with Godrej Properties again, who will use this bungalow for the next phase of development of the location.


Godrej Properties had earlier acquired RK Studios in Chembur from the Kapoor family in 2019 and developed a premium mixed-use project, Godrej RKS on it. The new property will help the company to expand its presence in the Chembur region further.

FAQs:

Q1. How many land parcels have Godrej Properties acquired this fiscal?
Godrej Properties acquired over 15 land parcels this fiscal, which have a sales potential of nearly Rs 28,000 crore.

Q2. Is the Kapoor Haveli in Peshawar, Pakistan being converted into a museum?
Yes, Raj Kapoor’s ancestral home, Kapoor Haveli in Peshawar, Pakistan has been proposed to be converted into a museum by IMGC Global Entertainment and with the support of the Khyber Pakhtunkhwa government.