3 Acres of Opportunity: Keystone Realtors Reimagines Malad West

Rustomjee Group's Keystone Realtors has successfully secured the redevelopment rights for two housing societies, encompassing a vast area of over three acres in Malad (West), Mumbai.

Having been appointed as the redevelopment partners for two prominent societies in Malad, spanning a combined land area of 12,120 sq. mtrs, the project holds a significant Gross Development Value (GDV) of Rs 1,200 crore. This redevelopment initiative involves the relocation of 342 existing members from Veena Nagar Co-operative Housing Society and NeelKamal Ghruh Co-operative Housing Society.

The project is slated for launch in the upcoming year, aligning seamlessly with the company's strategic vision of cultivating a diversified portfolio and fortifying Rustomjee's footprint in the flourishing western part of the city. Anticipated to yield a sale potential exceeding 3.42 lakh sq. ft. of RERA carpet area, the project is expected to generate a substantial GDV exceeding Rs 1,200 crore.

Notably, Rustomjee Group has been actively pursuing its expansion strategy, and this recent development follows the collaboration with Ajmera Realty & Infra India (ARIIL) in a joint venture for the redevelopment of a housing society in the Bandra locality of Mumbai.

News by Rahul Yelligetti