Born in Mumbai, to Raksha and Parry Dholakia, an advertising professional, Rahul also has an elder sister Moha. After completing his schooling from Campion School, Mumbai and Jamnabai Narsee School in Mumbai, he went on to do his Bachelors in Science from St. Xavier's College, Mumbai.While still in college he started working in his father’s advertising agency, Mora Ava. He also worked with producer Babla Sen, for project for Channel 4, London, as production assistant and 10 documentaries later became a producer himself. Later, he started working with Everest Advertising in Mumbai as an assistant, growing up to become a producer.