Keystone Realtors selected for large Mumbai redevelopment project

Keystone Realtors Limited has been chosen as the developer for a large-scale cluster redevelopment project consisting of eight housing societies in Andheri West, Mumbai. According to the company's filing with the Bombay Stock Exchange, this agreement involves the redevelopment of existing properties, with no title transfer taking place, where Keystone Realtors gains development rights. As part of the agreement, Keystone will provide existing society members with additional carpet area in exchange for the rights to develop the land and use additional Floor Space Index (FSI) as permitted under Development Controller and Promotion Regulations (DCPR) 2034, to offset costs. The names of the target entities in the redevelopment project include Arena CHSL, Belmont CHSL, Rohit Apartments CHSL, Shree Padmavati CHSL, Cosmos CHSL, Mota Mahal CHSL, Mota Mansions CHSL, and The Ballerina CHSL.