Keystone Realtors Limited — listed on BSE and NSE under ticker 543669 and known universally through its Rustomjee brand — was founded in 1995 and is headquartered in Mumbai. Its portfolio spans integrated townships, gated communities, standalone landmarks, retail spaces, commercial projects, and social infrastructure such as schools, clubhouses, and parks, with projects across the affordable, mid and mass, aspirational, premium, and super-premium categories across the Mumbai Metropolitan Region. In Thane, the company has made its most concentrated long-term bet: a 127-acre township that has been under active development since 2006 and continues to absorb new clusters today.
Rustomjee's integrated township project, Urbania, spans 127 acres (51.4 hectares) in Thane, within the Mumbai Metropolitan Region. Since its launch in 2006, the Urbania township has housed 2,700 residential units amid comprehensive amenities. The scale of the commitment deepened further when Rustomjee brought in an international partner: Keppel Land, the property arm of Singapore-headquartered Keppel Corporation, entered into a joint venture with Rustomjee Group, acquiring a 49% stake in the joint venture firm Kapstone Constructions Pvt. Ltd for approximately ₹410 crore — the first such collaboration between a Singaporean and an Indian developer for a township in the Mumbai Metropolitan Region. Under the joint venture, the two partners are jointly developing an addition of about 7,400 homes and retail units with a total gross floor area of approximately 5 million sq ft.
The Keppel partnership is not merely a financial arrangement. Keppel Land's collaboration combines its international experience and township expertise with Rustomjee Group's extensive network of partners and local know-how to develop an innovative and multifaceted township, in line with Keppel Land's strategy to provide solutions for sustainable urbanisation. The resulting product — branded Rustomjee Uptown Urbania — is well-located in Thane and has easy access to medical and educational institutions including Sulochanadevi Singhania School and Podar International School, and showcases design thinking by incorporating inputs from experts across multiple disciplines including designers, architects, and sustainability and environmental consultants.
Rustomjee La Vie is situated within Rustomjee Uptown Urbania at Majiwada, Thane West. The project spreads across 8.5 acres and includes 8 towers of 4 basement + ground + 53 storeys. It offers 2 BHK and 3 BHK flat units in Majiwada, Thane. Floor plan options span a practical range: carpet areas run from 579 to 932 sq ft across 2 and 3 BHK configurations.
Pricing places La Vie squarely in the mid-to-aspirational segment of the Majiwada market. Prices start at ₹1.44 crore, with under-construction units available. Specific floor plan pricing, as published by third-party aggregators, shows a 2 BHK at 700 sq ft carpet priced at ₹1.80 crore, a 3 BHK at 833 sq ft at ₹2.14 crore, and a 3 BHK at 881 sq ft at ₹2.26 crore. The project is registered with RERA, with registration numbers P51700050803, P51700053109, and P51700053110.
The site's physical characteristics matter for buyers assessing long-term livability. With only 8 towers planned across the 8.5-acre land parcel, the low tower density provides residents with space to move around the project and ensures better ventilation and openness within the apartments. At the township level, services are spread across a central park, three leisure zones, and a rooftop — including a clubhouse, an Olympic-sized pool, a sky lookout deck, a forest path, jacuzzi pods, and a football field. Residents have access to more than 45 facilities including a swimming pool, spa, yoga deck, children's play area, amphitheater, party hall, and library.
On sustainability, the project is IGBC-approved with a focus on water saving, solar lighting, and green construction material. The township's overall design approach incorporates inputs from environmental consultants — a product of the Keppel Land co-development model that prioritises sustainable urbanisation.
Majiwada functions as a three-way hinge in the MMR: Mumbai to Thane via the Eastern Express Highway, Thane to Mira-Bhayandar and Borivali via Ghodbunder Road, and Thane to Bhiwandi, Kalyan, Shahapur, and Nashik via the Mumbai-Nashik corridor — making it one of the most strategically positioned nodes in the region. For La Vie specifically, the project is located near Saket-Kalwa Road, Balkum Pada, Majiwada, Thane, with the Eastern Express Highway at 1.5 km, Jupiter Hospital at 2.7 km, and Viviana Mall at 2.8 km.
Metro connectivity adds a forward-looking dimension to the location. Metro Line 4 and its extension Line 4A together form a 32.3 km elevated corridor from Wadala to Kasarvadavali, with trial runs already started on the Thane (Cadbury)–Gaimukh priority stretch, with passenger operations targeted in phases from late 2025 and early 2026 onwards. For Majiwada residents, the Cadbury Junction and Kapurbawdi area becomes the practical metro access point, giving direct elevated line access to Wadala and central Mumbai once full operations begin. Further ahead, the Thane-Borivali twin tunnel under Sanjay Gandhi National Park has a total length of about 11.8 km and, once operational, is expected to cut Thane-Borivali travel time from close to an hour to roughly 15 to 20 minutes by bypassing existing surface congestion.
Market data from property registration records confirms that the Urbania cluster is among Majiwada's highest-transacting addresses. In the past year, Rustomjee Uptown Urbania recorded 208 transactions and Rustomjee La Vie recorded 35 transactions in Majiwada — placing both among the top transacted projects in the locality. Contextually, average property rates per sq ft in Majiwada stood at around ₹20,000, with flat rates changing by 1.8% in the last year, 13.6% in the last three years, and 27% over the last five years.
Portal and market data for 2024-2025 broadly indicate listing rates in Majiwada in the mid-teens to early twenties band (₹17,000–₹25,000+ per sq ft), with premium, brand-heavy projects near key infrastructure and malls comfortably above ₹22,000+ per sq ft. The rate at which La Vie is priced — approximately ₹19,961 per sq ft as noted by aggregators — sits within this band, reflecting the township premium without reaching the ceiling of boutique luxury pricing in the corridor.
Boman Rustom Irani, CMD of Keystone Realtors, has noted that the Thane and Mumbai markets are performing strongly, and the company is expected to surpass its FY25 pre-sales target of ₹3,000 crore. Across all geographies, Rustomjee Group carries a development portfolio of 16.6 million sq ft of completed projects, 10.9 million sq ft of ongoing development, and 22 million sq ft of planned development spanning the Mumbai Metropolitan Region.
Beyond La Vie, Rustomjee's Thane commitments extend in two further directions. Verdant Vistas in Thane — a collaboration with Singapore-based Keppel — is anticipated to comprise 440 units and achieve a gross development value of ₹1,750 crore, featuring 3 BHK units ranging from 1,100 to 1,300 sq ft and 4 BHK units between 1,750 and 2,250 sq ft, representing Rustomjee's debut luxury project in Thane. In a separate geography within the Thane district, Keystone Realtors is entering plotted development by acquiring land in Kasara, where the project will comprise 500 plots of different sizes amounting to approximately 1.5 million sq ft — driven by growing demand for second homes and peaceful retreats.
The pattern across these three Thane-district projects — Urbania/La Vie at Majiwada, Verdant Vistas at Majiwada, and Belle Vie at Kasara — shows a deliberate range: a mature mid-segment township for everyday urban families, an entry into luxury residential, and a plotted-development product for buyers seeking land ownership near Igatpuri. A buyer evaluating Rustomjee in Thane is effectively evaluating a developer that has committed to this geography across multiple product categories and price points, not one that is testing the market with a single project.
Rustomjee was named India's Most Desired Real Estate Residential Brand 2024 by TRA Research, finishing first in the residential real estate brand category across 1,000 brands in 34 categories and 16 cities, and also received the Most Innovative Brand Communicator of the Year award from CREDAI MCHI Thane. That recognition from an industry body specifically covering Thane underscores a presence that has moved well past a single-project footprint into something closer to institutional standing in the city.
