Rustomjee Group announces New Development in Chembur, Mumbai

Keystone Realtors Limited (Rustomjee Group), one of the leading real estate companies of Mumbai, has been selected as the Developer of choice to redevelop the plot and premises of Basant Park Co-operative Housing Society Limited on a land admeasuring approximately 16,896.40 square meters in Chembur, Mumbai, Maharashtra.

This redevelopment will lead to sale potential of approximately 2,75,000 sq. ft. of RERA carpet area. This marks the group's entry into Chembur after successfully developing several gated communities and townships across various location in the Mumbai Metropolitan Region. The project is expected to be launched in FY 2024.

Mr. Boman Irani, Chairman and Managing Director, Keystone Realtors Limited, said, "Chembur has great connectivity and accessibility, making it an opportune area to develop. This Project is a part of our well thought out strategy of focusing on the fast-growing aspirational redevelopment segment in real estate and aligns with our expansion plans in one of the fast-growing micro market in the city."

The land parcel lies in the well-developed residential area and directly overlooks the Bombay Presidency Golf Club and is located close to the Chembur station. With schools, colleges, hospitals and shopping avenues located within a 1 km radius of the project, this new development will offer great connectivity to corporate hubs and recreational centres in close proximity.

Shares of Keystone Realtors Limited was last trading in BSE at Rs. 509.55 as compared to the previous close of Rs. 523.10. The total number of shares traded during the day was 2927 in over 497 trades.

The stock hit an intraday high of Rs. 523.25 and intraday low of 508.05. The net turnover during the day was Rs. 1500159.00.

Source : Equity Bulls

Keywords

KeystoneRealtors INE263M01029 Residential Commercial RedevelopmentProject Chembur Mumbai