Balaji's mother was Malayalee and his father was Tamil. He was the grandson of colonial era advocate T. Rangachari. His interest in acting began when he performed in school plays and amateur theatre shows. He had three children — Suresh Balaje, Sujatha and Suchitra Mohanlal. Malayalam superstar Mohanlal is his son-in-law. His wife Anandavally died in 1995. He was also the grandfather of Pranav Mohanlal and Sooraj Balaji. Famous comedian Y.G Mahendra is his nephew through his sister Mrs. Rajalakshmi Parthasarathy. He died on 2 May 2009 evening due to multiple organ and renal failure. He had been hospitalised for over a month. K. Balaji was a famous film producer associated with Tamil cinema, who has also produced several Malayalam films. He was a Malayali, settled in Chennai. Most of his successful Tamil ventures were the remakes of Bollywood hits. Billa starring Rajinikanth and Vazhvey Maayam starring Kamal Haasan are among his memorable projects. Noted film producer, Suresh Balaje is his son. His daughter Suchitra is married to leading Malayalam actor Mohanlal since 1988. Apart from his role as a film producer, he has also acted in a few Malayalam, Tamil and Hindi movies. He was seen in the Bollywood films – Surakshaa and Amar Deep in the late 1970s. He produced first film Thangai.