KANDIVALI: Raymond Realty is stitching another project into its growing Mumbai portfolio.
The real estate arm of the Raymond Group has signed definitive agreements to develop a residential project in Kandivali with an estimated gross development value of around Rs 3,000 crore. Announced on 9 March, the project strengthens the company’s presence in the city’s redevelopment-driven housing market.
The upcoming development will be located in a prime area of Kandivali and marks Raymond Realty’s third redevelopment initiative in Mumbai’s western suburbs. It is also the company’s seventh joint development project across the city.
With land becoming scarce and redevelopment emerging as a key route for new housing supply, developers are increasingly focusing on such projects to expand within established neighbourhoods. Raymond Realty’s latest move signals its continued focus on high-potential urban pockets within the Mumbai Metropolitan Region.
Raymond Realty chief executive officer harmohan sahni said the company remains focused on expanding its portfolio in quality urban locations while maintaining disciplined capital deployment and strong execution standards. He added that the Kandivali project is expected to contribute meaningfully to the company’s future growth while addressing strong end-user demand in Mumbai’s housing market.
Following the addition of the Kandivali development, the total gross development value of Raymond Realty’s real estate portfolio is expected to approach Rs 43,000 crore.
The company said the project will further strengthen its position in Mumbai’s residential market as it continues to build a pipeline of redevelopment projects across key micro-markets in the city.
