Raymond Realty unveils Bandra housing project, eyes Rs 2,000 crore revenue

Bandra real estate: Raymond Realty, the real estate division of Raymond Group, revealed on February 20 the introduction of its inaugural project beyond Thane, situated in Bandra with an estimated revenue potential surpassing Rs 2000 crore, as stated by the company. Prior to this, Raymond Realty had been primarily focused on developing properties within its 100-acre land holdings in Thane.

Named as 'The Address by GS, Bandra', the project spans across 2.74 acres of land in Bandra East and is anticipated to yield a development value exceeding Rs 2,000 crore, encompassing approximately 0.7 million sq ft of carpet area for sale. This expansion beyond Thane aligns with the company's focus on expansion, facilitated through joint development agreements (JDAs) within the Mumbai Metropolitan Region (MMR).

Prime connectivity, luxury living

The project's location offers convenient connectivity to key areas such as the Bandra-Kurla Complex and the Bandra-Worli Sea-Link, presenting a diverse range of residential options including 2, 3, and 4 BHK apartments. Complementing these living spaces are 30 amenities and a 16,000 sq ft clubhouse, aiming to enhance residents' quality of life.

Gautam Hari Singhania, Chairperson and MD of Raymond Group, said, "The Address by GS, Bandra marks a milestone in our expansion strategy, offering luxurious gated living with world-class amenities in the prime locale of Bandra East."

Harmohan Sahni, CEO, Raymond Realty, highlighted that the project, spanning 20 storeys, is a redevelopment endeavour encompassing 10 buildings. The project's completion is slated for January 2030, adhering to RERA guidelines.

Sahni further emphasised the project's competitive edge, given the absence of comparable offerings in the vicinity. With a market rate of approximately Rs 60,000 per sq ft for ready apartments, the project aims to surpass previous benchmarks set by the company.

Thane land expansion

Raymond Realty's ongoing focus remains on developing properties within its Thane land bank, which is estimated to hold a potential worth close to Rs 25,000 crore. Since 2019, the company has been leveraging this asset through the launch of various residential projects, solidifying its position in the real estate market.