Keystone Realtors enters eastern suburbs with INR 1,000-crore project
Real Estate

Keystone Realtors enters eastern suburbs with INR 1,000-crore project

Keystone Realtors, the real estate firm that conducts business under the brand Rustomjee, has been awarded a 4.2-acre redevelopment project in Chembur, Mumbai.

With more than four-fifths of the votes cast by the society's residents, it won the contest to redevelop Basant Park. The new project's architect is Hafeez Contractor, and the contractor is L&T. In the next three to six months, the development agreement is likely to be signed. The other competitor in the race was Mahindra Lifespaces.

The project ought to make it possible to sell brand-new apartments with carpet areas totaling nearly 300,000 square feet. After spending the previous two decades working in the western suburbs, this will be Rustomjee's first venture in Mumbai's eastern suburbs.

The project occupies one of the largest parcels of land in the Chembur micromarket, offering views of the prestigious Bombay Presidency Golf Club.

Boman Irani, Chairman and Managing Director, Keystone Realtors, stated that Blue View and Green View were the two types of projects that were being planned prior to the company's initial public offering in November.

He declared, "Blue View is being done with our project at Bandstand, which faces the sea" after winning the Basant Park redevelopment project. This Chembur redevelopment, on the other hand, is a Green View project with stunning views of the golf course."

With approximately 200 members, the current society consists of apartments with 2/3 BHK configurations. These will be converted into apartments with 3/4 BHK or more under the redevelopment plan.

Executing a community-driven project in a well-connected location that has been overlooked by branded developers presents Keystone Realtors with an opportunity.

The large parcel of land is in a location that isn't considered premium in the micromarket, which presents challenges, and the Rustomjee brand only has a limited impact in the eastern suburbs. In the early stages of the project, pricing premium can be limited by both factors.

Keystone Realtors, the real estate firm that conducts business under the brand Rustomjee, has been awarded a 4.2-acre redevelopment project in Chembur, Mumbai. With more than four-fifths of the votes cast by the society's residents, it won the contest to redevelop Basant Park. The new project's architect is Hafeez Contractor, and the contractor is L&T. In the next three to six months, the development agreement is likely to be signed. The other competitor in the race was Mahindra Lifespaces. The project ought to make it possible to sell brand-new apartments with carpet areas totaling nearly 300,000 square feet. After spending the previous two decades working in the western suburbs, this will be Rustomjee's first venture in Mumbai's eastern suburbs. The project occupies one of the largest parcels of land in the Chembur micromarket, offering views of the prestigious Bombay Presidency Golf Club. Boman Irani, Chairman and Managing Director, Keystone Realtors, stated that Blue View and Green View were the two types of projects that were being planned prior to the company's initial public offering in November. He declared, Blue View is being done with our project at Bandstand, which faces the sea after winning the Basant Park redevelopment project. This Chembur redevelopment, on the other hand, is a Green View project with stunning views of the golf course. With approximately 200 members, the current society consists of apartments with 2/3 BHK configurations. These will be converted into apartments with 3/4 BHK or more under the redevelopment plan. Executing a community-driven project in a well-connected location that has been overlooked by branded developers presents Keystone Realtors with an opportunity. The large parcel of land is in a location that isn't considered premium in the micromarket, which presents challenges, and the Rustomjee brand only has a limited impact in the eastern suburbs. In the early stages of the project, pricing premium can be limited by both factors.

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?