Raymond Realty Ltd has signed a joint development agreement for a residential project in Parel, Mumbai. The project has an estimated gross development value (GDV) of 8,500 INR-Crore. It marks the company’s first residential project in South Mumbai and its largest development outside its Thane land parcel. With this addition, Raymond Realty’s total real estate portfolio has reached an estimated GDV of 52,000 INR-Crore.
The Raymond Realty Parel project is the company’s eighth joint development project in Mumbai. It forms part of the company’s asset-light development strategy. The project is located in Parel and will benefit from connectivity through the Atal Setu, the Sewri-Worli Elevated Connector, Metro Line 11, and the planned underground tunnel linking the area with South Mumbai. The development is expected to strengthen Raymond Realty’s residential portfolio in the city.
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The Raymond Realty Parel project reflects the company’s continued expansion through joint development agreements. Additionally, the project expands the company’s footprint into South Mumbai’s residential market. The development also highlights sustained investment activity in one of Mumbai’s key redevelopment corridors.
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