Redevelopment project in Mumbai keystone Realtors Limited, a company under the Rustomjee Group, has been selected as the Developer of Choice for the redevelopment of eight housing societies under the Om Co-operative Housing Society Federation located in Andheri (East), Mumbai. This major redevelopment project in Mumbai marks a significant milestone in the city’s ongoing urban renewal journey and reflects the growing scale of society redevelopment initiatives.
Redevelopment project in Mumbai
According to the official announcement made on February 16, Keystone Realtors Limited will undertake the redevelopment of eight housing societies situated in the Andheri East area of Mumbai. Under this ambitious plan, a total of 637 existing members will be rehabilitated, ensuring that they receive modern, well-planned residential homes. The project will generate a free-sale potential of approximately five lakh square feet of carpet area. The Gross Development Value (GDV) of the project is estimated at around ₹1,775 crore, making it one of the most prominent large-scale redevelopment ventures currently underway. Due to its size, location, and economic impact, this redevelopment project in Mumbai holds special importance for both residents and the real estate sector.
At present, Mumbai is witnessing a surge in redevelopment activity across several locations, particularly in areas dominated by aging residential buildings. Many old structures are being replaced with modern complexes that offer improved safety, infrastructure, and quality of life. In this context, the Andheri redevelopment initiative stands out as yet another landmark redevelopment project in Mumbai, contributing to the city’s urban transformation.
Mumbai’s residential landscape is largely shaped by cooperative housing societies, which form a vital part of its social and structural framework. A significant portion of the population resides in such societies, as they provide a sense of community, security, and organized living. Moreover, middle-class and working families often prefer housing societies due to better amenities and planned layouts. Consequently, redevelopment projects involving large societies attract substantial interest from homeowners and buyers alike. As a result, opportunities created by this redevelopment project in Mumbai are expected to generate strong demand and participation.
Commenting on the project, the company stated,“The project comprises eight housing societies of the Om Nagar Co-operative Housing Society Federation in the Andheri East area.” Further elaborating on the development, Irani said, “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 ₹1,775 crore and a significant development footprint, this project exemplifies our focus on scale, location, and value creation. 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.” This vision underlines the broader impact of every major redevelopment project in Mumbai undertaken by the company.
The entire development will be executed on a land parcel measuring approximately 20,569.90 square meters. Once completed, the project is expected to generate substantial revenue and long-term economic benefits. Keystone Realtors has a proven track record of successfully delivering large-scale redevelopment and cluster projects, with GDVs ranging from ₹3,000 crore to ₹7,700 crore. This experience ensures quality construction, timely completion, and efficient project management, making this initiative a key redevelopment project in Mumbai.
Although Mumbai faces severe land scarcity, the redevelopment of old and dilapidated buildings offers enormous potential for sustainable growth. In recent years, large-scale redevelopment of chawls and old residential structures has gained momentum. Areas such as Andheri, Borivali, and Dadar are witnessing continuous redevelopment activity, which benefits residents, developers, and the broader economy. Through such initiatives, the redevelopment project in Mumbai plays a crucial role in improving living standards, strengthening infrastructure, and supporting economic development.
