Keystone Realtors, known as the Rustomjee Group, has received official approval (called the Letter of Acceptance) to redevelop GTB Nagar in Sion, Mumbai. This project is being done in partnership with MHADA (Maharashtra Housing and Area Development Authority).

The project will take place on a large piece of land—about 11.19 acres—and will help improve the lives of over 1,400 families. It will create about 20.7 lakh square feet of space that can be sold, with a total estimated value of around ₹4,521 crore.

This is a big and important project for Mumbai. It shows Rustomjee’s strong focus on community development and working with the government to improve old housing areas and turn them into modern neighborhoods.

Boman Irani, the Chairman and Managing Director of Keystone Realtors, said:
“We are happy to get the chance to redevelop GTB Nagar. This project will help 1,200 society members and 200 slum residents. For us, redevelopment is not just about building homes—it’s about making lives better. We want to create safe, strong, and happy communities. We’re proud to be part of one of the biggest redevelopment projects in Mumbai and we thank MHADA for trusting us with this important work.