Godrej Properties buys Raj Kapoor’s Chembur bungalow for Rs. 100 crores!
Godrej Properties has purchased late actor Raj Kapoor’s Chembur bungalow in Mumbai to develop a premium residential project. Godrej bagged the bungalow for a whopping price of Rs 100 crores and as per the reports, the transfer papers were signed by Randhir Ranbir Raj Kapoor, Reema Jain, Nitasha Nanda, Nikhil Nanda, and Neetu Rishi Kapoor on February 16.
Located in the Deonar area in the Chembur location of Mumbai, this property has a land area of 4,265.50 sq m. Talking about the deal, Gaurav Pandey, MD and CEO of 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,” he added.