Raj Kapoor in 1948, after becoming a popular hero, decided to build RK Studio and he started it in Chembur, Mumbai. With time, as his films became huge hits and classics, the studio expanded and became an iconic address for many Hindi films. As time progressed, new studios came in Mumbai and other film hubs for producers to look out for options.
Raj Kapoor family did take over the studio management and decided to upgrade it with time. But during a program shoot, a fire accident took place and even the memoir of Raj Kapoor was burnt into ashes. Remains have been shifted to his residence. Krishna Raj Kapoor, his wife is still alive and she is taking care of them.
As the studio re-building became difficult and the entire family cannot bear huge losses, they decided to sell the land and studio to private builders. Rishi Kapoor announced this decision on behalf of all the Family members and expressed deep dissatisfaction over the situation.