Raymond Realty inks joint development agreement for residential project in Parel, Mumbai

Raymond Realty announced that it has signed a Joint Development Agreement (JDA) to develop a prestigious residential project in a prime location of Parel, Mumbai marking its foray in South Mumbai.

This landmark project carries an estimated Gross Development Value (GDV) of approximately Rs. 8,500 crore, making it the largest project undertaken by the Raymond Realty outside its flagship Thane land parcel to date. It also represents Raymond Realty's 8th Joint Development project in Mumbai city, reaffirming the strong momentum behind the Company's strategic expansion plan.

The development gives Raymond Realty a premier opportunity to construct an iconic, large-scale residential project in the heart of the city, offering unparalleled location advantages, unhindered sea views, and exceptional connectivity. The project leverages a highly strategic location, offering immediate connectivity via the newly commissioned Atal Setu to the Navi Mumbai International Airport. It also significantly reduces commute times to major business hubs such as Worli, BKC, and Lower Parel through the Sewri-Worli Elevated Connector, scheduled to open by late 2026, while the upcoming underground tunnel is set to ensure seamless travel to Marine Drive and Nariman Point by 2028.