While Rishi Kapoor had earlier expressed a desire to rebuild the studio with "state-of-the-art technology", his brother Randhir said it was not practical.
"Yes we have taken the decision to sell RK Studio. It is already up for sale. After the fire that broke at the studio it was not viable to build the studio again... It was not economically viable to do it again," Randhir told PTI.
The films made under the RK banner include "Aag", "Barsaat", "Awaara", "Shri 420", "Jis Desh Mein Ganga Behti Hai", "Mera Naam Joker", "Bobby", "Satyam Shivam Sundaram", "Ram Teri Ganga Maili", among others.
The last film made under the banner was Rishi Kapoor-directed "Aa Ab Laut Chalen".
When Raj Kapoor passed away in 1988, his elder son Randhir took over the studio. Later, his younger brother Rajiv Kapoor directed "Prem Granth".