Rustomjee Wins Andheri Redevelopment Project

Keystone Realtors, popularly known as the Rustomjee Group, has been appointed as the preferred developer for the redevelopment of eight housing societies in Mumbai’s Andheri locality.

The project carries an estimated revenue potential of approximately Rs 1,775 crore, marking a significant addition to the company’s redevelopment portfolio.

The redevelopment involves eight housing societies that are part of the Om Nagar Co-operative Housing Society Federation in Andheri East. According to the company, the proposed plan will facilitate the rehousing of 637 existing members across all societies.

Key Highlights

• Keystone Realtors appointed preferred developer for eight Andheri East societies
• Project to rehouse 637 members under Om Nagar Co-operative Housing Society Federation
• Development unlocks 5 lakh sq ft RERA carpet area with Rs 1,775 crore GDV

This ensures structured redevelopment and upgraded residential infrastructure for current occupants. The project is expected to unlock substantial free-sale potential of approximately 5 lakh square feet of RERA carpet area.

This translates into an estimated Gross Development Value (GDV) of Rs 1,775 crore. The scale of the development underlines the continued momentum in Mumbai’s redevelopment market, particularly in prime suburban micro-markets such as Andheri East.

By securing preferred developer status for the Om Nagar Co-operative Housing Society Federation project, Keystone Realtors strengthens its presence in Mumbai’s competitive real estate redevelopment segment.

“We are pleased to have been selected as the preferred developer for the Om Nagar redevelopment project in Andheri (East), which represents an important addition to Rustomjee’s growing redevelopment portfolio. With a GDV of nearly Rs 1,775 crores and a significant development footprint, this project exemplifies our focus on scale, location, and value creation,” Boman Irani, chairman and managing director, Keystone Realtors, said.

“The company is increasing its focus on large society redevelopment, and this project further enhances our presence in a strategically important suburban market. We believe that urban redevelopment is not just about creating real estate, but about revitalising communities and transforming the way people live in the city. We remain focused on disciplined execution and value creation as we continue to strengthen our project pipeline and pursue sustainable long-term growth,” Irani said.

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The project aligns with the broader trend of large-scale housing society redevelopments in the city, where aging residential clusters are being transformed into modern, higher-value developments under structured regulatory frameworks like RERA.