Introduction
Raymond Realty, the real estate arm of Raymond Group, has unveiled its inaugural project in the Mumbai real estate market. Named “The Address by GS, Bandra,” the project is located in Bandra East. It has connectivity to major places like the Bandra-Kurla Complex and the Bandra-Worli Sea Link.
Table of Contents
- Raymond Group Has Launched 1st Project
- Aims to Provide Excellent Living Experience
- Bandra’s Landmark
- It Is Currently a 20-Floors Project.
- Market Price of Ready-Made Apartments
Spread over an area of 2.74 acres, this residential development is estimated to have a development value of over ₹2,000 crores. It will have a diverse mix of 4 BHK apartments, a 16,000-square-foot clubhouse, and 30 amenities. Additionally, the project will include high-street retail space, among other offerings. Exciting times for the Mumbai real estate scene!
Raymond Group Has Launched 1st Project
Raymond Realty, the real estate arm of the Raymond Group, announced the launch of its first project in the Mumbai real estate market on February 20. The project is located in Bandra East and is named ‘The Address by GS, Bandra’.
The development cost of this project is estimated to be more than 2,000 crores. 0.7 million square feet of carpet will be developed on a 2.74 acre land parcel. The company plans to expand beyond Thane through Joint Development Agreements (JDAs) in the Mumbai Metropolitan Region (MMR).
The project will have connectivity to major locations like the Bandra-Kurla Complex and the Bandra-Worli Sea Link. There are 30 facilities and a 16,000-square feet clubhouse. It also offers a diverse mix of 2, 3, and 4 BHK apartments.
Aims to Provide Excellent Living Experience
In a statement, Raymond Limited said, “Additionally, the residential project will include exclusive high-street retail space among other amenities. It aims to provide an excellent living experience for the residents. The project also promises significant financial returns. With estimates of Rs. 2000 crore in revenue indicated.
Bandra’s Landmark
“GS Address Bandra is an important milestone in our growth journey. Our first project beyond the Thane. It has excellent connectivity to places like BKC and domestic and international airports.
The project offers luxury living in a gated community with world-class amenities. A prime location like Bandra East. Target, in addition to the success of our previous projects,” said Gautam Hari Singhania, Chairman and Managing Director of Raymond Group.
It Is Currently a 20-Floors Project.
“Bandra has not seen this huge project for a long time. It is currently a 20 floors project, and we will build 0.7 million square feet of RERA carpet on a 2.74-acre land parcel. The project is a 10-building redevelopment project where the design, sale and rehabilitation components are built on separate plots. The RERA deadline for this project is January 2030,” Harmohan Sahni, CEO of Raymond Realty, said in a statement.
Market Price of Ready-Made Apartments
“The market price of ready-made apartments nearby is Rs 60,000 per sq ft, but right now, for our kind of product, there is no comparable project. In a way, we are our competitors here, and we have to do better.” Harmohan Sahni said.
Currently, Raymond Realty is busy developing projects on its 100-acre land parcel in Thane. The company has been monetizing its land bank in Thane since 2019 by launching residential real estate projects. According to the company, the Thane land parcel is worth Rs. 25,000 crores are possible.
Conclusion
Raymond Group’s venture marks a significant milestone as its first project outside Thane. The luxury of gated community living with world-class amenities awaits residents in this prime location. This ambitious project aims to redefine luxury living in the heart of Mumbai, combining elegance, connectivity, and world-class amenities. For more information, visit our Openplot.
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