Rustomjee Group announces new development in Mahim, Mumbai

Keystone Realtors Limited (Rustomjee Group), one of the leading real estate companies of Mumbai, has executed joint development agreement with Raj Doshi Exports Pvt Ltd to develop a parcel of land admeasuring about 6067.96 square meters situated at Mahim, Mumbai, Maharashtra.

The development being undertaken will lead to sale potential of approximately 2,85,000 sq. ft of RERA carpet area. This new development marks the group's entry into Mahim after successfully developing many gated communities and townships across various location in the Mumbai Metropolitan Region. The project is expected to be launched in CY 2023.

Mr. Boman Irani, Chairman and Managing Director , Keystone Realtors Limited, said, "This development is a part of our strategy to focus on fast growing aspirational segment of Real Estate market. Mahim has great connectivity and accessibility. This agreement aligns with our expansion strategy and helps us enter one of the growing micro markets in the city."

The land parcel lies in the well-developed residential area and is located close to Dadar as well as Matunga Station. With schools, colleges, hospitals and shopping avenues located within a 2 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. 512.85 as compared to the previous close of Rs. 527.15. The total number of shares traded during the day was 7558 in over 693 trades.

The stock hit an intraday high of Rs. 529.35 and intraday low of 511.00. The net turnover during the day was Rs. 3909042.00.

Source : Equity Bulls

Keywords

KeystoneRealtors INE263M01029 Residential Commercial JDA RajDoshiExports Mahim Mumbai