Project Launch
Rustomjee appointed developer for ₹1,775 crore Om Nagar redevelopment in Andheri East
Keystone Realtors announced on February 16, 2026, that it has been selected to redevelop the Om Nagar Co-operative Housing Society Federation Limited in Andheri East. The redevelopment will rehouse 637 existing members and unlock approximately 5 lakh sq ft of RERA carpet area for free sale, with an estimated Gross Development Value of ₹1,775 crore.
| Developer | Keystone Realtors Limited (operating as Rustomjee Group) |
|---|---|
| Location | Andheri East, Mumbai |
| Project Type | Large society redevelopment—consolidation of 8 cooperative housing societies |
| Land Area | 20,569.90 square metres |
| Families to be Rehoused | 637 existing members across all societies |
| Free-Sale Potential | Approximately 5 lakh sq ft of RERA carpet area for open sale |
| Estimated GDV | ₹1,775 crore |
| Status (as of September 2026) | Developer appointed; project upcoming—pre-construction and regulatory clearances phase |
| Announcement Date | February 16, 2026 |
Project Scope and Selection
Keystone Realtors has been appointed as developer for the Om Nagar Co-operative Housing Society Federation Limited redevelopment of eight housing societies on a total land parcel of 20,569.90 square metres at Andheri (East), Mumbai. The company announced its selection on February 16, 2026. The selection followed a competitive bidding process in which bids were opened on February 17, 2023, with an initial comparative statement prepared by project management consultant in April 2023.
Resettlement and Development Scale
The proposed redevelopment will result in the rehousing of 637 existing members across all societies and is expected to unlock a significant free sale potential of about 5 lakh sq ft of RERA carpet area, with an estimated Gross Development Value of ₹1,775 crore. The project is located in Andheri East and covers a combined land area of nearly 20,570 square metres, aiming to rehouse 637 existing members and unlock around five lakh square feet of free-sale carpet area.
Developer Profile and Strategy
Established in 1995, Rustomjee has transformed the real estate landscape of Mumbai City, with projects across the length and breadth of the city, successfully delivering over 230 landmark buildings that house more than 17,000 happy families. The addition strengthens Rustomjee's footprint in Mumbai's high-growth western suburbs and aligns with its strategy of building a diversified portfolio across ticket sizes and micro-markets, with a focus on creating gated communities and integrated lifestyle offerings through large-format redevelopment initiatives.
Andheri East Locality Context
Andheri East's strategic location provides easy access to major corporate hubs such as SEEPZ, MIDC, and BKC, which is particularly attractive for professionals who value a short commute, and residents can enjoy a work-life balance that few other regions offer. Andheri East stands as a prime hub for real estate development, a dynamic locality that is a magnet for homebuyers and investors drawn to its robust infrastructure, excellent connectivity, and a growing number of commercial establishments that fuel demand for residential spaces.
Timeline and Regulatory Framework
As of September 2026, the project remains in the pre-construction and regulatory approval phase. Redevelopment projects require multiple approvals from municipal authorities, RERA, and other agencies; in this case, Rustomjee has been selected as the preferred developer through proper regulatory filings and will follow strict compliance related to fire safety, environmental clearances, and construction norms. Specific possession timelines and RERA registration numbers have not yet been publicly disclosed for this project, as it remains in its early development stage.
Frequently asked questions
What is the Om Nagar redevelopment project?
It is a large society redevelopment in Andheri East consolidating eight cooperative housing societies into one planned redevelopment project, covering 20,569.90 square metres, affecting 637 member families.
Who is the developer?
Keystone Realtors Limited, which operates under the Rustomjee brand. The company was appointed as preferred developer on February 16, 2026, following a competitive bidding process.
What is the estimated project value?
The estimated Gross Development Value (GDV) is ₹1,775 crore, with approximately 5 lakh sq ft of free-sale RERA carpet area unlocked from the redevelopment.
What happens to existing residents?
All 637 existing members across the eight societies will be rehoused as part of the redevelopment. Specific details regarding rehabilitation terms and timelines are being coordinated by the society and the developer.
When will units be available?
The project is in the early stage of regulatory approvals and pre-construction planning. Possession timelines have not been publicly disclosed; typical society redevelopments in Mumbai take 5–7 years from regulatory clearance to completion.
Is the project RERA-registered?
The project has not yet been formally RERA-registered as it remains in the pre-construction phase. RERA registration will be filed once detailed project approvals and construction plans are finalized by the developer and municipal authorities.
What is the location context for investment?
Andheri East is a well-established western suburb with strong proximity to corporate hubs including SEEPZ, MIDC, and Bandra Kurla Complex (BKC), excellent metro and road connectivity, premium schools, hospitals, and retail establishments, making it a high-demand residential and employment hub.