Clichéd as it may sound, this marks the end of an era where the studio served as the headquarters of Kapoor’s film production company: R K Films.
Indian Film and Television Director's Association appeals Godrej to make 'Raj Kapoor museum' at RK studio land
Godrej is planning to develop mixed-use project housing luxury flats and retail space on the land.
The company did not disclose the deal value.
Indiabulls Real Estate was incorporated in 2006 with focus on construction and development of residential, commercial and special economic zone projects across major metros.
The JV would develop, lease, and manage around 1 million square feet of prime office and retail space on the 4-acre property, it added.