Raymond Realty has announced its foray into the development of ‘Grade A’ commercial and high street retail space at Thane land spread across 9.5 acres. This comes after an overwhelming response to its maiden aspirational 1 & 2 BHK project 10X in Thane with a host of amenities.
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. Raymond Realty has been strengthening its position in the real estate sector since its inception in 2019.
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 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, and 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.
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.
Raymond Realty has also 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.
Despite the pandemic induced slowdown, Raymond Realty showcased stellar sales over 70 percent of total inventory sold of ~2,350 units launched till date.