BENGALURU : Godrej Properties Ltd (GPL) is opening up luxury homes for sale at Mumbai’s iconic RK Studios which it bought last year. The developer will sell three and four bedroom homes as part of what it calls the ‘Collector’s Edition Residences’ at the 72-year old property, which once served as the headquarters of movie legend Raj Kapoor’s film production company, RK Films, with many movies shot on its premises.

The 2.2-acre site, located in suburban Chembur, offers around 33,000 square metres of saleable area. The project will have three and four bedroom homes of 1316-2258 sq ft in size.

“The Collector's Edition Residences offer architecture that takes inspiration from Bombay Art Deco design. The development will offer state-of-the-art amenities, plush specifications, and strong security attributes. It will also seek to celebrate the legacy of this site by retaining some of its best known features," GPL said on Friday.

Luxury projects are slowly making a return as developers compete for a niche segment of wealthy homebuyers, even as affordable and mid-segment housing dominate the property market.

Mumbai, known for its luxury projects, has gone particularly slow on high-end developments due to the slump in the sector.

“We are thrilled to launch Godrej RKS at the iconic RK Studios in Chembur. We will seek to ensure we celebrate the remarkable legacy of this site with a landmark development that delivers an outstanding lifestyle for its residents," said Pirojsha Godrej, executive chairman, GPL said in a statement.

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