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Raymond Realty Expands its Horizons Beyond Thane

In Business
October 06, 2021

Raymond Realty has been strengthening its position into the Real estate sector since its inception in 2019. After an overwhelming response to its
maiden aspirational 1 & 2 BHK project 10X in Thane with a host of amenities, Raymond Realty today announced the development of ‘Grade A’ commercial and high street retail space at Thane land spread across 9.5 acres.

The company also announced its plans to build premium residential units comprising of 3 & 4 BHK configurations spread across 1 mn. sq. ft. subject to requisite approvals. The project will come with premium amenities with some being first of their kind in the sector in India.

With the ongoing construction at a break neck speed and completion of its first three towers tower structure in a record time, Raymond Realty is committed to deliver its first unit ahead of 24 months of the RERA deadlines. In an environment that is marred by delayed delivery of Real Estate projects, this commitment by Raymond Realty for its home buyers will be a first of kind benchmark in the industry in line with the brand ethos of Trust, Quality & Excellence of Raymond.

After announcing the corporatization of the business division, Raymond Realty is poised for growth that will pave way for focused capital attraction in the future.

Commenting on the announcement, Gautam Hari Singhania, Chairman and Managing Director, Raymond Limited said; “Raymond Realty is making great strides in the sector with an appealing proposition that is resonating well with our consumers. Structurally, the first 3 towers of our maiden project are complete and we are committed to deliver the first unit 24 months ahead of the declared RERA deadline. This is in line with our brand values where the speed for go to market remains pivotal to our overall strategy. 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. Home ownership is an aspiration in India and we seek to fulfill this cherished dream for all.”

In addition to Housing and Commercial projects in Thane, Raymond Realty is also evaluating numerous options through Joint Development Agreement without land acquisition in the Mumbai Metropolitan region. There are various proposals currently under evaluation across MMR and the business is on course to attain significant value creation. Believing in the philosophy of keeping customer first, Raymond Realty has announced a
unique first of the kind value preposition to its home buyers. Customers who have been unable to make payments and had to get their unit forfeited due to financial challenges because of the pandemic, have now been offered the adjustment of the forfeited amount till 24 months in case they would like to book a flat again. This move has further instilled the confidence of consumers in Raymond Realty promising the value proposition and customer delight.

Despite the pandemic induced slowdown, Raymond Realty showcased stellar sales over 70% of total inventory sold of ~2,350 units launched till date. With over 100 acre land parcel in the heart of Thane city, Raymond forayed into the real estate space in 2019 with its maiden project ’10X’, which is spread over 14 acres. Since its launch, this township of 42 storeyed towers of over 3000 smart-sized homes of 1 and 2 BHKs have emerged as a preferred brand given its superior offering, attractive pricing and prime location.