Rustomjee Wins Rs 45 Billion GTB Nagar Redevelopment

03 Jul 2025 CW Team

Keystone Realtors, the Mumbai-based developer behind the Rustomjee brand, has secured a Letter of Acceptance to overhaul GTB Nagar in Sion, Mumbai, in partnership with the Maharashtra Housing and Area Development Authority (MHADA). Occupying about 11.19 acre, the project will rehouse more than 1,400 families and unlock roughly 2.07 million sq ft of saleable area.

Keystone estimates the scheme’s gross development value at about Rs 45.21 billion, with free saleable space expected to generate over Rs 45 billion in revenue. The redevelopment underscores the company’s “community first” approach, transforming ageing stock into resilient neighbourhoods while working alongside public agencies.

Since its incorporation in 1995, Keystone Realtors has delivered over 26 million sq ft across 37 completed projects and is currently building 16 schemes. Its pipeline totals more than 40 million sq ft, reinforcing its standing as one of India’s leading real estate players.

Infrastructure Urban

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