Mumbai: Raymond Realty has joined hands with a landowner to develop a premium residential project in Parel, Mumbai, with a revenue potential of 8,500 crore. The project will be developed through JDA, furthering its asset-light expansion and the company’s presence in the Mumbai real estate market.
The project will be situated in one of the city’s prime residential areas. It is expected to feature modern homes with fine facilities and excellent accessibility. Raymond Realty hasn’t yet identified the landowner, but this is yet another significant addition to its growing portfolio.
This is the eighth joint development project in Mumbai for the company, further proving its focus on expanding through strategic partnerships. Gautam Hari Singhania, Chairman of Raymond Group, said Parel had always played a significant role in Mumbai’s growth and this new project will be another landmark project for the company.
The firm continues to look for partnerships to bring the best out of prime land across Mumbai, without merely purchasing land. Through this new venture, the company hopes to respond to the growing demand for residential space in the city and reaffirm its status as one of India’s leading developers. The project will add to Mumbai’s skyline, and ensure that homebuyers can enjoy a modern lifestyle in one of the city’s most sought-after neighbourhoods.
