Khanna, who passed away on Wednesday, wanted the sea-facing bungalow on Carter Road in Bandra West to be turned into a museum after his death.
"Khanna wanted that after his death, the bungalow be converted into a museum. If this happens then it will be India's first star museum. His two daughters Twinkle and Rinke are married and well-settled... They don't need his property," the source told PTI.
"But the final decision on the museum will be taken by the two daughters," the source said.
The museum will comprise of Khanna's clothes, trophies, cars and other memorabilia.
"There are several valuable things related to Khanna in his bungalow. So right from trophies that he has received till date for his film career to his clothes to the battery of cars that he has to artifacts and other things will be part of the museum," the source said.
Khanna had inaugurated a park in Khar in the '70s, since then its official name became 'Rajesh Khanna Garden'. Similarly, he had expressed desire that his bungalow be called 'Rajesh Khanna Museum'.
