Raymond Realty Considering Joint Development Projects in MMR
Raymond Realty has 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. Raymond Realty is plans to deliver its first unit ahead of 24 months of the RERA deadlines. 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. 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. Gautam Hari Singhania, Chairman and Managing Director, Raymond Limited said; “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. 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.”
Tags : News/Views Land Acquisition Thane RERA Raymond Realty MMR Joint Development Premium Residential Gautam Hari Singhania