Established by the legendary late actor Raj Kapoor in 1948 at Chembur, Mumbai, RK Studios goes up on sale due to growing losses.
According to reports, Rishi Kapoor on behalf of the Kapoor family 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.”
“Clients using the studios had started demanding free parking space, air-conditioning and discounts, which had added to the losses” claim Rishi.
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Kapoor further mentioned that the number of bookings had decreased over the years with producers preferring studios near Goregaon and Andheri while Chembur is no longer seen as a lucrative shooting space like it was back in the 40s and 50s.
Earlier, the Kapoor considered renovating the whole space with cutting-edge technology; however, the fire last year made their plan unrealistic. The Kapoors have employed a team to negotiate for the sale of the premises.