Mumbai-based Keystone Realtors, popularly known as the Rustomjee Group, has announced its selection to redevelop eight housing societies as part of a significant cluster redevelopment project in Andheri West.

The project is expected to unlock approx. 10.6 lakh sq. ft. of saleable area and generate a Gross Development Value (GDV) of Rs 3,000 crore. The redevelopment, located in the bustling Lokhandwala area, spans a total plot size of 4.75 acres (approximately 19,229 sq. mtrs.) and involves 548 existing members. Development Agreements (DAs) have already been signed with five of the societies, and Letters of Intent (LOIs) have been received from the remaining three, with DA execution expected shortly.

According to the company, this cluster redevelopment aligns with Rustomjee’s strategic vision of expanding its footprint across high-potential suburban micro-markets while diversifying its project portfolio. The project adds to the company’s growing pipeline for the current financial year, reinforcing its position as a key player in Mumbai’s real estate sector.