This bollywood superstar's iconic bungalow to be turned into Rs 500 crore luxury housing project; check details here

Mumbai, the financial hub of India, is home to one of the most opulent homes. Many opulent homes may be found in the city of dreams, like Mukesh Ambani's Antilia and Shah Ruk Khan's Mannat. The famous Raj Kapoor home in Chembur, Mumbai, which Godrej Properties just purchased, will soon be transformed into an opulent residential complex.

The Godrej Group's real estate division will shortly open a high-end residential complex with a possible sales area of 2 lakh square feet on a 1-acre plot of land that was acquired from the lawful heirs of Raj Kapoor in February. A project developed on Raj Kapoor's home is anticipated to have an overall sales reservation value of Rs 500 crore, according to a company's latest disclosure to stock markets, Moneycontrol said.

GPL announced on February 17, 2023, that it has acquired Raj Kapoor's bungalow in the Chembur area of Mumbai to construct an upscale housing project. According to Moneycontrol, the business claimed that the Kapoor family, who are the legitimate heirs of the renowned actor, producer, and director, was the seller of the land.

Located on Deonar Farm Road in Chembur, Mumbai, the location is near the Tata Institute of Social Sciences (TISS) and is considered to be one of the area's upscale residential districts. Similar to this, in May 2019, GPL bought R K Studios in Chembur, Mumbai, from the Kapoor family to create the Godrej RKS premium multi-use building.

Furthermore, the business revealed that one of the planned launches is the Raj Kapoor Bungalow in Chembur during the Q2FY24 profits meeting in answer to a query regarding releases in achieving months followed by significant projects in the second half of the year.

According to Moneycontrol, during the conference call, Gaurav Pandey, the Managing Director (MD) and CEO of GPL, stated that there will be another forthcoming launch. Additionally, as revealed by GPL's Executive Chairperson Pirojsha Godrej on November 2, 2023, the business plans to join the Hyderabad real estate market.