India, March 13 -- Boman Irani, chairman and managing director of Keystone Realtors (Rustomjee Group), has said he does not foresee a decline in demand in the Mumbai real estate market despite some areas having experienced a cooling effect. He said that the company plans to expand into Tier 2 cities with senior living and plotted development projects.

The company is preparing to launch a second plotted development project in Kasara, located near Mumbai, he said.

Regarding overall demand in the Mumbai real estate market, Irani emphasized that while some overheated pockets may have slowed, the Mumbai Metropolitan Region (MMR) remains robust.

"I do not see demand slowing down across the board. There may be cooling in specific pockets, but...