Mumbai: In what will be seen as symbolic as the end of an era, the famous RK Studio built from scratch by the legendary Raj Kapoor is now being sold.
The decision to place the 2-acre studio located in Mumbai’s Chembur suburb was taken by the Kapoor family which includes Raj Kapoor’s wife Krishna Raj Kapoor, his sons Randhir, Rishi and Rajiv Kapoor and his daughters Ritu Nanda and Rima Jain.
Various builders and developers have been now approached with a proposal to sell the iconic studio.
Rishi Kapoor spoke on behalf of the family and said: “The investment in rebuilding the studio would just not have yielded sufficient revenue to keep it going. Even before the fire, for years RK Studio had become a huge white elephant, toting up losses.”
He mentioned that the number of bookings had decreased substantially over the years with producers preferring studios near Goregaon and Andheri. Being part of the Eastern suburbs, Chembur was no longer seen as a lucrative shooting space, like it was back in the 40s and 50s.
The Kapoors even considered renovating the whole space with cutting-edge technology; however, the fire last year made their plans to revive the studios even more unrealistic.
Rishi Kapoor says that though the family did think about renovating the studio, eventually the decision was taken to put it up for sale. The decision though an emotional one was done due to purely economic reasons.
Rishi Kapoor clearly states that the RK Studio was a “white elephant, toting up losses” even before it was severely damaged because of a fire which broke out last year.
The handful of clients using the studios had started demanding free parking space, air-conditioning and discounts claim Rishi, which had further added to the losses.
A team employed by the family has initiated the negotiations for the sale of the premises.