Curation Team
NEW DELHI: Keystone Realtors (Rustomjee Group) has been selected by eight housing societies as the developer for the large-scale cluster redevelopment project in Andheri West, Mumbai.
The development agreement (DA) has already been executed with five societies, while LOIs have been received from the remaining three societies, with DA execution expected over the next few days.
Boman Irani, chairman and managing director of the company said, “With a GDV of nearly ₹3,000 crore and a significant development footprint, this project exemplifies our focus on scale, location, and value creation.”
The project involves the redevelopment of a cluster of private housing societies with a cumulative plot area of approximately 4.75 acres (19,229 sq meters), encompassing 548 existing members.
The proposed redevelopment is expected to unlock a saleable area of approximately 10.6 lakh sq ft and generate a gross development value (GDV) of ₹3,000 crore.
