Keystone Realtors Limited, which operates under the Rustomjee brand, has extended its footprint from its traditional Mumbai and Thane strongholds into the Karjat periphery with a project in Bhilvale, Khalapur. Rustomjee Svaasa is a premium plotted development by Rustomjee Group located in Bhilvale, Khalapur, near Karjat, Maharashtra. The development is spread across 29.15 acres of land with more than 500 carefully planned plots. The project is currently in the pre-launch stage and has already received RERA registration with registration number PP1270002600567.
In 1996, Boman R. Irani founded Rustomjee Group, and quietly began reshaping Mumbai's skyline. Irani holds a degree in engineering and has completed leadership programs at Harvard. The group's portfolio in the Mumbai Metropolitan Region includes some of its more recognisable integrated townships: Rustomjee Urbania in Thane (W) is a 127-acre integrated township, designed with a fusion of open and covered spaces, offering residential, commercial, retail, education and entertainment areas. Rustomjee Evershine Global City in Virar (W) is the largest township in the western suburbs and also the highest-selling, developed along with Evershine Developers, spread across 217 acres. The company has also worked in redevelopment, having pioneered slum redevelopment with 'Elita' in Andheri West and moved into the luxury segment with a project on 10th Road, Juhu. Company filings describe Keystone Realtors as a prominent MMR-based real estate developer and a leader in the redevelopment space, developing integrated townships, gated communities, standalone landmarks, retail spaces, commercial projects, and social infrastructure such as schools, clubhouses, and parks within townships under its brand Rustomjee.
Rustomjee's move into Bhilvale, Khalapur is not an isolated experiment. The group has been actively acquiring land for plotted, second-home-oriented development along the Mumbai-Pune-Nashik periphery. In the Kasara belt, further up the same corridor, Keystone Realtors forayed into plotted development with the acquisition of an approximately 88-acre land parcel, marking the first significant step in expanding Rustomjee's portfolio to cater to the growing demand for second homes. That project was planned to comprise around 500 plots of different sizes, totalling approximately 1.5 million sq-ft. The pattern is consistent: a heritage MMR builder, historically known for large apartment townships and redevelopment, is now applying the same institutional discipline to land parcels aimed at buyers wanting a weekend home or a long-term plot within reach of Mumbai.
The locality's appeal for a Rustomjee buyer rests on infrastructure that is either already in place or actively under construction. The Mumbai Pune Expressway is located nearby, making daily travel easier, and Karjat Railway Station is only a short drive away, allowing residents to travel comfortably to Mumbai and nearby cities. The upcoming Navi Mumbai International Airport is also expected to improve regional connectivity and boost property demand in the coming years.
Two larger infrastructure programmes are reshaping the wider belt. The Mumbai-Pune Expressway's Missing Link, which bypasses the ghat section and is expected to cut travel time between Mumbai and Pune by around 20 to 25 minutes, is set to significantly reshape the real estate landscape in Maharashtra, with areas like Karjat, Neral and Lonavala emerging as the next major growth hubs. Separately, a proposed second Mumbai-Pune Expressway is described as a proposed 130-km greenfield expressway running parallel to the existing Mumbai-Pune Expressway, aimed at reducing congestion and improving intercity connectivity, estimated to cost around ₹15,000 crore. Originating near the Jawaharlal Nehru Port, this corridor places the Karjat-Khalapur-Khopoli belt at the intersection of port-led logistics expansion, supported by JNPA and allied freight infrastructure.
Rustomjee is not the only established name assembling land in this belt. Public reporting on the Missing Link's impact notes that Godrej Properties has acquired a 90-acre land parcel in Khalapur, Raigad, right along the expressway corridor, with an estimated development potential of 1.7 million square feet, primarily for residential plotted development. This kind of parallel activity by multiple MMR-scale developers reinforces that Bhilvale, Khalapur's positioning between Karjat railway station and the expressway network is a considered institutional bet rather than a speculative sideline, and it is the same logic that has drawn Rustomjee here.
A buyer assessing Rustomjee's presence in Bhilvale, Khalapur is essentially assessing two things together: a developer with close to three decades of delivery discipline built on Mumbai and Thane townships, and a locality whose connectivity story is still being written through the Missing Link and the proposed second expressway. The Rustomjee Svaasa project has already received RERA registration under number PP1270002600567, giving early buyers a regulatory anchor even while the surrounding corridor's larger infrastructure projects remain under construction or in planning.