RK Studio, founded by legendary actor- producer Raj Kapoor, has been put up on sale after his family realised that the plan of renovating it from its deteriorating condition is futile, his son, actor Rishi Kapoor said during an exclusive interview with a leading daily.

It is an extremely emotional decision for the Kapoor family, as explained by Rishi Kapoor, but the investment required to restructure the studio will not exact the revenue.

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“For a while, we did juggle with the idea of renovating the place with state-of-the-art technology. However, in reality it isn’t always possible for a phoenix to rise from the ashes. We Kapoors are very emotional lot but then… The investment in rebuilding the studio would just not have yielded sufficient revenue to keep it going. Believe me, we had to take the larger picture into account and take a level-headed decision,” Rishi Kapoor told the daily.

In September 2017, a fire broke out at a portion of the studio – on the set of the television show Super Dancer. Although no casualties were reported, but the fire resulted in the loss of “irreplaceable memorabilia and costumes of all RK Films”, as tweeted by the senior actor after the incident.

“Even before the fire, for years R. K. Studio had become a huge white elephant, toting up losses. The few bookings we would get from films, TV serials and ad shoots would expect free parking space, air-conditioning and discounts,” he added during the interview.

The R. K. Studio is located in Mumbai’s Chembur and was built by Raj Kapoor almost 70 years ago. Films including Jis Desh Me Ganga Behti Hain (1960), Mera Naam Joker (1970) and Bobby (1973) have been shot at the studio as well.