The iconic RK Studios, which the Kapoor family confirmed recently they had decided to sell, could fetch over Rs 100 crore, a new report says. According to Mint, the iconic RK Studio property brokers and experts claim that the Mumbai landmark, founded by Raj Kapoor in the 1940s, could be sold for close to Rs 128 crore.
Raj Kapoor established the studio with his film Aag, followed by the superhit Barsaat. Its string of successes include Awaara (1951), Boot Polish (1954), Shri 420 (1955), Jaagte Raho (1956). Raj Kapoor’s last film before his death, Ram Teri Ganga Maili, was also produced under the same banner.
Actor Rishi Kapoor said that the decision to sell the property was a collective one was gutted in a fire in 2017.
In an interview to Mumbai Mirror, the actor said, “For a while, we did juggle with the idea of renovating the place with state-of-the-art technology. However, in reality it isn’t always possible for a phoenix to rise from the ashes. We Kapoors are very emotional lot but then… The investment in rebuilding the studio would just not have yielded sufficient revenue to keep it going. Believe me, we had to take the larger picture into account and take a level-headed decision. Even before the fire, for years R. K. Studio had become a huge white elephant, toting up losses. The few bookings we would get from films, TV serials and ad shoots would expect free parking space, air-conditioning and discounts.”
Randhir Kapoor, spoke to the Quint about why the family ultimately made the decision. “With the state of the roads and traffic today, no actor comes to Chembur to shoot in this studio. They would rather go to Film City. So, with a very heavy heart, we have decided to let it go. My whole family is very sad, but there’s no other way,” he said.
He said that “It’s even more an emotional loss than monetary loss. We have lost the entire memorabilia of Raj Kapoor. Whatever Raj Kapoor had built has been burnt down.”