Rustomjee Group is set to construct two housing societies in Mumbai with a gross development value of Rs 1,200 crore

Rustomjee Group is set to construct two housing societies in Mumbai with a gross development value of Rs 1,200 crore

Rustomjee Group is set to construct two housing societies in Mumbai with a gross development value of Rs 1,200 crore

In a statement from the firm, it was said that the project in the Malad region of Mumbai would include the rehabilitation of 342 current members of both societies, and that the renovation will probably result in the sale of 3.42 lakh sq ft of RERA carpet space.

Mumbai Real Estate Update: The aforementioned Malad, Mumbai project is anticipated to begin construction early in the next year. With these developments, Rustomjee's current fiscal year has seen the inclusion of eight new projects with a total GDV of Rs. Rs 7,000 crore, the business claims.

The Veena Nagar Co-operative Housing Society Limited as well as Neelkamal Grih Co-operative Housing Society Limited have chosen Keystone Realtors Limited (Rustamjee Group) as their preferred developer to redevelop their plots and properties together. This announcement was made on January 22 by the listed real estate developer. has been chosen as 12,120 square meters of property in Mumbai's Malad West neighborhood.

In addition to providing rehabilitation for 342 current members of both societies, the corporate statement said that this redevelopment is expected to result in the sale of approximately 3.42 lakh square feet of RERA carpet area, through a estimated gross development value (GDV) of Rs 1,200 crore.

According to the announcement, this expansion will further solidify Rustomjee's position in the expanding western suburbs of Mumbai and is consistent with the company's aim of developing a broad portfolio across all ticket levels.

"These initiatives highlight the confidence society has in our brand's demonstrated competence in the rehabilitation industry. These societies have great faith in our capacity to provide outstanding outcomes, which is reflected in our selection as their preferred partner. Boman Irani, Chairman as well as Managing Director of Keystone Realtors Limited, said, "These developments are another milestone in our process of shaping the destiny of the urban landscape as the Rustomjee Group continues to be at the leading edge of innovative as well as sustainable development."

The aforementioned project is anticipated to begin in the next year. With these developments, Rustomjee's current fiscal year has seen the inclusion of eight new projects with a total GDV of Rs. The business claims that Rs 7,000 crore

On January 18, however, a total development goal of Rs 760 crore was set by Ajmera Lux Realty Pvt Ltd (ALRPL), a joint venture between Ajmera Realty & Infra India Ltd (ARIIL) as well as Landmark Realtors Ltd (Rustomjee Group) in Bandra West. A project to renovate was revealed. Value (GDV).