Keystone Realtors of Rustomjee Group will develop a Landmark Project in Mahim, Mumbai

Rustomjee Group's Keystone Realtors has partnered with Raj Doshi Exports to build a 1.5-acre property in the Mahim neighbourhood of Mumbai.

According to RERA requirements, the development is estimated to have a selling potential of around 2.85 lakh square feet of carpet area.The project is expected to commence in 2023.

The company announced that this would be its first project in Mahim, after the development of other gated communities and townships in the Mumbai Metropolitan Region. Our objective is to focus on the constantly increasing aspirational segment of the real estate market, which includes development.

This agreement aligns with our expansion strategy and allows us to enter one of the city's fastest-growing micromarkets, according to Boman Irani, chief executive officer of Keystone Realtor.

The property lot is located in a well-developed residential area next to the Dadar and Matunga railway stations and gives access to the Bandra-Kurla Complex and Lower Parel commercial areas.

According to Mumbai real estate industry sources, Rustomjee is in negotiations to acquire at least 20 residential real estate projects, including repair work, and expects to add around half of them to its development portfolio in the near future.

In addition to these restoration projects, the company is in advanced discussions to enter into a joint development arrangement for a total of three projects in strategic areas in Mumbai.

Rustomjee's real estate portfolio in the Mumbai Metropolitan Area comprises of 32 completed projects, 12 ongoing projects, and 19 future projects. These categories consist of affordable, mass market, aspirational, premium, and luxury goods.