ü Selection of Raymond Realty as preferred developer for redevelopment
ü Second project in Bandra has an estimated development value of Rs. More than 2,000 crores
ü An iconic landmark in Bandra, the project is spread over an area of over 2 acres
ü Raymand Realty in Bandra, Sion and Mahim Rs. Three JDs signed up with revenue potential of over 5,000 crores
Mumbai, Monday, 10 June, 2024: Raymond Realty, the Raymond Group's real estate company, today announced that it has been selected for the redevelopment of yet another residential project – MIG VI CHS Limited at Bandra East in Mumbai. Raymond Realty bags second redevelopment project in Bandra (East).
Today the board of Raymond Limited approved the project. Raymond Realty has bagged the project with 100 percent vote by society members for redevelopment. The project is strategically located in one of the most sought after residential areas in Mumbai
And known as iconic landmark in Bandra East. During the project period Rs. It is also estimated to earn more than 2,000 crores. The project expansion is in line with the company's aggressive growth plans in real estate development in the Mumbai metropolitan region.
Earlier Raymond Realty had invested in Mahim, Sion and Bandra at an estimated Rs. Three joint development agreements were signed with a development value of over Rs 5,000 crore. With the addition of these projects, the Gross Development Value (GDV) of the projects under implementation in Mumbai city is around Rs. 7,000 crore will be. The addition of one more project in Bandra strengthens the company's presence as one of the leading developers in the region.
In addition, the 100 percent vote from MIG VI CHS's society members reflects the company's commitment to providing luxury living spaces and highlights its expertise in handling large society and MHADA redevelopments.