Godrej Properties on 3rd May announÂced its plan to redevelop Raj Kapoor’s R.K. Studios at Chembur in Bombay into residential apÂartments and luxury retail space. The studio is located on the Sion-Panvel Road and stands on a plot admeasuring 2.2 acres. Rumours have it that the deal for sale was finalised between the Kapoor family and Godrej at Rs. 180 crore.