India, July 2 -- Mumbai-based Keystone Realtors Limited, popularly known as the Rustomjee Group, announced on July 2 that it has been selected to redevelop eight housing societies as part of a large-scale cluster redevelopment project in Mumbai's Andheri West. The project is expected to generate a revenue of Rs.3,000 crore from the saleable area.

According to the company, Development Agreements (DAs) have already been executed with five of the societies, while Letters of Intent (LOIs) have been received from the remaining three. Execution of DAs for these is expected in the coming days.

Located in the Lokhandwala area of Andheri West, one of the city's most vibrant residential hubs, the cluster redevelopment covers a cumulative plot are...