Godrej Properties acquires Raj Kapoor’s Bungalow in Chembur, Mumbai
The Mumbai-based real estate developer will develop a premium residential project at the iconic location
Mumbai, February 17, 2023 : Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has acquired Raj Kapoor’s Bungalow in Chemburto develop a premium residential project.
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.
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.”
Chembur is an established residential location with good infrastructure consisting of healthcare centres, educational institutions, entertainment & recreational centres along with commercial and retail outlets in close proximity. The site is in proximity to the Eastern Express Highway and Eastern Freeway, providing good connectivity to Bandra Kurla Complex (BKC), Central and Western suburbs of Mumbai, South Mumbai, Thane and Navi Mumbai via Sion-Panvel highway.
About Godrej Properties Limited:
Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 126-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved. Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.
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For further information, please contact:
Anurag David
Corporate Communications
Godrej Industries Limited
Email: anurag.david@godrejinds.com, Mobile: +91 93225 01136
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