Now Reading: Raymond Realty targets ₹4500 crore redevelopment in Mahim
-
01
Raymond Realty targets ₹4500 crore redevelopment in Mahim
Raymond Realty Ltd, the real estate arm of Raymond Group, will launch two redevelopment projects in Mumbai's Mahim area in FY2027 with a combined gross development value of ₹4500 crore. The company…
The Story in Brief
Raymond Realty Ltd, the real estate arm of Raymond Group, will launch two redevelopment projects in Mumbai's Mahim area in FY2027 with a combined gross development value of ₹4500 crore. The company recently signed two more projects in Parel and Kandivali, worth ₹8500 crore and ₹3000 crore respectively. It follows an asset-light model, developing projects through joint development agreements. In Thane, Raymond Realty has 65 acres under development with a revenue potential of ₹16,500 crore. Sales bookings in the June quarter reached ₹700 crore, up 129% from the year-ago period, with only 36% from Thane.
The Indian Opinion
The narrative that redevelopment will seamlessly unlock value for all stakeholders ignores the ground reality of delays, litigation, and disputes over compensation that have plagued past projects. Raymond Realty's asset-light model and branded offerings may attract premium buyers, but the real test lies in timely completion and fair rehabilitation of existing residents. Watch the execution timelines for the Mahim and Parel projects. The number that will settle the debate: how many of the 44,277 new homes projected by 2030 actually get delivered.
Source: livemint.com
This story was synthesised by AI from the source linked above.
