Raymond Realty to redevelop project in Bandra (East)

June 10, 2024: Raymond Group’s real estate arm Raymond Realty has been selected for the redevelopment of residential project – MIG VI CHS Ltd that is located in Bandra East, Mumbai, mentioned the company in a regulatory filing with the National Stock Exchange. Today, the board of Raymond approved the project. 

According to the filing, Raymond Realty won this project with 100% votes by the members of society for the redevelopment. The project is located in one of the most sought-after residential areas of Mumbai and is known as a prestigious landmark in Bandra East. It is also estimated to generate a revenue of more than Rs 2,000 crore over the project period. This expansion in projects is in line with the company’s aggressive growth plans of real estate development in Mumbai Metropolitan Region (MMR). 

Previously, Raymond Realty had signed three joint development agreements for projects in Mahim, Sion and Bandra with an estimated development value of over Rs 5,000 crore. With addition of this project, the estimated gross development value (GDV) of projects under execution will be around Rs 7,000 crore in Mumbai.