Khernagar, part of the Kherwadi pocket of Bandra East, is where Rustomjee has placed Rustomjee Erika, a 2 BHK residential address on Road No. 6, close to the EPFO office and roughly 1.1 km from the Bandra-Kurla Complex. The project sits within a locality that is a developing locality in Mumbai on the eastern side of Bandra railway station, bordered to the south by Mahim, to the north by Khar, and to the west by S.V. Road. For Rustomjee, this is one of several addresses the group has built or is building across Bandra East, a suburb it has worked in for years alongside its base in Khar, Bandra Kurla Complex, and other western-suburb pockets of Mumbai.
Rustomjee is a Mumbai based real estate company, founded by Boman Irani in 1995, and the company was listed as Keystone Realtors on BSE and NSE. Under this listed entity, Keystone Realtors has established 20.22 million square feet of high-value and reasonable residential structures, townships, corporate parks, premium gated estates, iconic landmarks, retail spaces, schools, and various other real estate development. Much of that portfolio has been built through joint property agreements, redevelopment agreements with landowners or builders, or societies, and slum rehabilitation development, a model that has let the group take on dense, established Mumbai suburbs like Kherwadi rather than only greenfield land.
The company's recent numbers show the pace of that growth. The company achieved Rs 4,022 crore in pre-sales for FY25, a 33% year-on-year increase, and Keystone Realtors aims for Rs 10,000 crore in pre-sales by 2029-30. Alongside its Mumbai Metropolitan Region base, Keystone Realtors plans expansion into Pune, Nagpur, and Nashik. Closer to Bandra, the group has also consolidated its own portfolio: Keystone Realtors' entity took over Rustomjee Crown, a premium residential project at Prabhadevi in Mumbai, as the developer of the project, having developed it since March 2018 through a development management agreement with DB Realty. The chairman has also flagged a large ultra-luxury launch nearby: Keystone Realtors is targeting a super luxury residential project at Bandstand, Bandra, with a gross development value of around Rs 3,000 crore. Together with Rustomjee Erika in Khernagar, these projects show a developer treating the Bandra micro-market, from Kherwadi to Bandstand, as a core part of its Mumbai business rather than a one-off launch.
Rustomjee Erika is located at Kher Nagar Road Number 6, Kherwadi, Bandra East, Mumbai 400051, and the status of the project is ready to move, with the project having received its occupancy certificate. It is built around 2 BHK apartments with modular kitchens, and comes with amenities such as a swimming pool, gymnasium, landscaped gardens, and a clubhouse, in addition to a jogging track and kids' play areas. Jio Garden, MCA Club and Sofitel Hotel are important landmarks in the immediate vicinity, alongside the EPFO office behind which the project sits. The project is registered under the Maharashtra Real Estate Regulatory Authority, with details searchable on the MahaRERA portal.
Because it is ready to move and already OC-received, resale activity has begun to set a visible price benchmark for the building. Listings for 2 BHK units at Rustomjee Erika have recently been quoted in the range of roughly Rs 46,875 to Rs 48,154 per sq ft for carpet areas between 623 and 640 sq ft, a level that sits above the broader Kherwadi average and reflects both the brand and the BKC-adjacent location.
Kherwadi's own transformation underpins the case for a Rustomjee project here. The locality was initially built by MHADA, which constructed 35 buildings of single-room-kitchen chawl flats, and these structures are currently being transformed into high-rises by private developers. That redevelopment wave, combined with the area's strategic position, increased infrastructure, and closeness to corporate centres like BKC, has pushed local values up. Area-wide, Bandra East trades at an average of about Rs 32,954 per sq ft, with 4.4% growth over five years, while Kherwadi's average cost is closer to Rs 26,622 per sq ft, with a range of Rs 15,319 to Rs 37,987 per sq ft. The premium strip directly bordering BKC commands more: the strip of residential towers bordering BKC commands the highest prices in Bandra East, at Rs 55,000 to Rs 70,000 per sq ft, with projects like Ten BKC and Rustomjee Seasons attracting BKC professionals and investors. Rustomjee Erika's transacted rates sit within that upper band, positioning it closer to the BKC-fringe pricing tier than to the wider Kherwadi average.
Connectivity is a large part of that story. The Bandra Colony and BKC Metro Stations on the Aqua Line (Line 3) are fully operational, and the area is positioned via the Western Express Highway and the Bandra-Worli Sea Link, reaching South Mumbai in 20 minutes and Mumbai Airport in 15 minutes. Social infrastructure adds to the draw, with landmarks like the MIG Cricket Club, Guru Nanak Hospital, and the Dhirubhai Ambani International School all within the same stretch of Bandra East. For a buyer evaluating Rustomjee Erika, these are the drivers that explain why the developer chose a Kherwadi plot: an established, MHADA-era neighbourhood now redeveloping under private builders, sitting inside walking-to-driving distance of BKC's office towers and the metro network serving it.
Erika is not an isolated entry for the group in this belt. Rustomjee's portfolio in and around Bandra East and the BKC fringe includes Rustomjee Seasons, Rustomjee Elements, Rustomjee Pinnacle, and Rustomjee Oriana, projects that have already established a landmark position among the developer's completed work. That cluster of delivered projects, combined with the Bandstand launch under preparation and the Prabhadevi consolidation, gives a buyer at Rustomjee Erika a developer with a continuing, rather than one-time, presence in this part of Mumbai.