Godrej Corporation will demolish Raj Kapoor’s bungalow and build a luxury housing project in Mumbai. This news has already come to light. But for how much money did Godrej Properties Ltd get ownership of the ‘Mera Naam Joker’ actor’s house? However, many people will know about this tomorrow. According to sources close, Godrej has the potential to generate a Rs 500 crore business from the new housing project. The sale price of each apartment will be determined by the company itself.
Godrej Properties Limited said on Friday that it is looking for a site in Chembur, Mumbai, to build a housing project. Raj Kapoor’s large traditional bungalow is perfect for this project. Godrej Chairman Pirojsha Godrej said the total land purchased from Raj Kapoor’s family is one acre. There will be a new luxury house here. Godrej had purchased the land from the Kapoor family heirs in a valid contract. It is mentioned in the contract that the sale price is kept confidential.
A housing project is coming up on Devna Farm Road in Chembur, Mumbai, near the Tata Institute of Social Sciences. In early 2019, Godrej had purchased another property from the Kapoor family. RK Studio is located in Chembur, a project is also under construction, due for completion this year.
Gaurav Pandey, Director of Godrej, said: “We are delighted to have such exceptional work in our portfolio. We are also grateful to the Kapoor family for trusting us so much.”
Marketing companies like Godrej have been trying to make big debuts for the past few years. Gaurav said that if his position in Chembur is strong, he will be more prosperous in business.
There is a lot of family excitement attached to the former home of the Kapoor family. It is also a story. Randhir Kapoor said: “I cannot express how much this bungalow means to the Kapoor family. So many memories…so much history, it’s all here. But by joining hands with Godrej, we hope to take this family property to the next level. “They are one of the largest organizations in the country dedicated to the development of the real estate business. Therefore, we are optimistic.”
By the way, Godrej Company has bought more than 15 such plots all over India. After the construction of several projects in the future, the sale value of which will be close to 28 billion rupees. It is said that some more land will be listed by March.