Keystone Realtors Partners with MHADA for ₹4,521 Crore GTB Nagar Redevelopment Project
Keystone Realtors has formally signed the Development Agreement and Construction & Development Agreement with the Maharashtra Housing and Area Development Authority (MHADA) for the GTB Nagar redevelopment project in Sion, valued at ₹4,521 crore. The agreement was signed through the company's wholly owned subsidiary, Keymidtown Developers Private Limited, following the Letter of Acceptance awarded on June 30, 2025.
The GTB Nagar redevelopment project represents one of Mumbai's most significant urban transformation initiatives. The comprehensive development spans across 11.54 acres and includes 20.7 lakh square feet of saleable area, benefiting over 1,200+ members. The project will utilize advanced construction technology and stringent safety standards to ensure a high-quality living environment.
The residential towers will be constructed using Aluminium formwork technology, ensuring a durable and watertight external concrete envelope. The development incorporates stringent structural safety norms for wind and earthquake resistance, along with best-in-class fire safety systems, electrical, plumbing, and vertical transportation infrastructure.
Boman Irani, Chairman and Managing Director of Keystone Realtors Limited, emphasized the project's significance beyond construction. 'This project represents the aspirations of more than 1,200+ members who have waited patiently for the promise of better homes and a more secure future,' Irani stated. He highlighted that redevelopment involves restoring dignity, strengthening communities, and delivering homes that members truly deserve.
This partnership reinforces Keystone Realtors' commitment to community-first development through strategic collaborations with public bodies. The project strengthens the company's presence in central Mumbai and demonstrates its capability in large-scale urban renewal initiatives. With 38 completed projects and over 28 million square feet delivered, the company continues expanding its substantial portfolio across the Mumbai Metropolitan Region.
Keystone Realtors has a strong track record of delivering high-quality projects that meet the needs of the community. The company's focus on sustainable development and innovative construction techniques aligns with the growing demand for modern, efficient, and safe living spaces in Mumbai. This project is expected to set new standards for urban redevelopment in the region and contribute to the overall growth and development of the city.
Incorporated in 1995, Keystone Realtors Limited operates as one of the prominent MMR-based real estate developers. The company maintains a comprehensive portfolio spanning the Mumbai Metropolitan Region with projects covering all price points, from affordable housing to luxury apartments. With a commitment to excellence and a strong focus on customer satisfaction, Keystone Realtors is poised to continue its growth and make a significant impact on the real estate landscape of Mumbai.
