Mumbai-based real estate firm Keystone Realtors Limited (part of the Rustomjee Group) has been chosen to redevelop a plot of land measuring approximately 16,896.40 square meters in Chembur, Mumbai, Maharashtra. The plot is currently home to the Basant Park Co-operative Housing Society Limited.
The redevelopment project is expected to have a sale potential of approximately 275,000 square feet of RERA-approved carpet area. This marks the Rustomjee Group’s first project in Chembur, although the company has previously developed several gated communities and townships in the Mumbai Metropolitan Region. The project is expected to be launched in the 2024 fiscal year.
According to Boman Irani, Chairman and Managing Director of Keystone Realtors Limited, ‘Chembur is a prime location for development due to its excellent connectivity and accessibility. This project is part of our strategic focus on the high-growth aspirational redevelopment segment in real estate and fits with our expansion plans in one of the fastest-growing micro markets in the city.’
The project site is located in a well-established residential area, with views of the Bombay Presidency Golf Club. It is conveniently located near Chembur station and within a 1 km radius of schools, colleges, hospitals, and shopping options. This new development will offer easy access to corporate hubs and recreational centers in the surrounding area.
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