The iconic studios that have produced Hindi film industries most memorable movies including Awaara in 1951, Mera Naam Joker in 1970 and Bobby in 1973 has now been purchased by Godrej Properties Ltd the company announced on Friday.

The Godrej released a statement saying, “Spread across 2.2 acres, this project will offer 33,000 square metres (0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience.”

Randhir Kapoor said in an interview recently, “We had done this deal six months ago. Everything is finalised. RK Studios has been a big part of the Kapoor family, and it was time to move on.”