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Keystone Realtors (Rustomjee Group) is set to redevelop Veena Nagar Co-operative Housing Society and NeelKamal Ghruh Cooperative Housing Society in Malad (West), Mumbai, spanning 12,120 sq meters, with an estimated Gross Development Value (GDV) of Rs. 1200 crore. In addition to accommodating 342 existing society members, the redevelopment is poised to generate a sale potential of about 3,42,000 sq ft, contributing to the anticipated GDV.
This strategic initiative aligns with Rustomjee's commitment to a diversified portfolio across different ticket sizes, fortifying its presence in Mumbai's burgeoning western suburbs. The redevelopment, expected to commence next year, emphasizes the trust societies place in Rustomjee's proven redevelopment expertise. The chosen partnership reflects the confidence these societies have in delivering exceptional outcomes.
This announcement comes amidst Rustomjee's substantial expansion, adding eight new projects in the current fiscal year, with a cumulative GDV of approximately Rs. 7,000 crore. The company's proactive strategy focuses on innovative and sustainable development, marking milestones in shaping future urban landscapes.
Simultaneously, on January 18, Ajmera Luxe Realty Private Limited, a joint venture between Ajmera Realty & Infra India Limited (ARIIL) and Keystone Realtors Limited (Rustomjee Group), unveiled a redevelopment project in Bandra West, targeting a substantial Gross Development Value of Rs. 760 crore.
The redevelopment project in Malad underscores Rustomjee's commitment to urban development and community well-being. The blend of strategic vision, redevelopment expertise, and a diverse project portfolio positions Rustomjee as a key player in Mumbai's dynamic real estate sector. As the company progresses with its ambitious plans, the focus on sustainable growth and contribution to the evolving urban landscape remains central to its mission. The upcoming projects are poised to further solidify Rustomjee's standing in Mumbai's real estate arena, emphasizing trust, innovation, and transformative urban development.
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