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Keystone Realtors Limited (Rustomjee Group), one of the leading real estate companies of Mumbai, has been selected as the Developer of choice to redevelop the plot and premises of Veena Nagar Co-operative Housing Society Limited & NeelKamal Ghruh Cooperative Housing Society Limited on a combined land admeasuring 12,120 square meters in Malad (W), Mumbai, Maharashtra.
In addition to rehousing 342 existing members of both the societies, this redevelopment will lead to sale potential of 3,42,000 sq. ft. of RERA carpet area with the expected Gross Development Value (GDV) of Rs.1200 Crs. This development is in line with Rustomjee strategy to build diversified portfolio across ticket sizes and will further strengthen Rustomjee presence into the growing western suburbs of Mumbai. The project is expected to be launched in next calendar year.
With these additions, Rustomjee has already added 8 new projects in current financial year with the total GDV of Rs.7000 Crs
Boman Irani, Chairman and Managing Director, Keystone Realtors Limited, said, “We are happy to announce that we are chosen as redevelopment partner by two societies in the vibrant locality of Malad West on the combined land spanning over 12,120 sq meters and boasting a combined GDV of Rs.1200 Crs. This is a welcome trend wherein societies in a cluster are getting together leading to development of gated communities and larger layout. These projects underscore the trust that societies place in our brand's proven expertise in the redevelopment space. Our selection as the chosen partner reflects the confidence these societies have in our ability to deliver exceptional outcomes. As Rustomjee Group continues to be at the forefront of innovative and sustainable development, these projects mark yet another milestone in our journey to shape the future of urban landscapes."
