Raymond Realty Forays Into Commercial Development
06 October 2021
Raymond Realty said that it is evaluating several options through joint development agreement without land acquisition in the Mumbai Metropolitan region.
NEW DELHI: Raymond Realty plans to develop 'Grade A' commercial and high street retail space at Thane land spread across 9.5 acres, the company said in a media release.
The company also plans to build residential units comprising of 3 & 4 BHK configurations spread across 1 million sq. ft.
Raymond Realty said that it is evaluating several options through joint development agreement without land acquisition in the Mumbai Metropolitan region.
"The current project has given us enough confidence now to expand our horizons beyond Thane and our venture into real estate is not limited to land monetization only. We are exploring various options of joint development without land acquisition outside Thane," said Gautam Hari Singhania, chairman and managing director of the company.
With over 100 acres land parcel in Thane, Raymond forayed into the real estate space in 2019 with its project '10X', which is spread over 14 acres.
"Structurally, the first three towers of our maiden project are complete and we are committed to deliver the first unit 24 months ahead of the declared RERA deadline," said Singhania.
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Source: realty.economictimes.indiatimes.com