Published On:June 11 2024
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"Raymond Realty Secures Second Redevelopment Project in Bandra East"

Raymond Realty, the real estate arm of the Raymond Group, has clinched another significant redevelopment project in Mumbai. Today, the board of Raymond Ltd gave its stamp of approval for the redevelopment of MIG VI CHS Ltd, located in the coveted area of Bandra East. The selection comes after Raymond Realty secured a unanimous 100% vote from the society members for the redevelopment endeavor.

Strategically positioned in one of Mumbai's most sought-after residential hubs, the MIG VI CHS Ltd project holds prominence as a prestigious landmark in Bandra East. It is anticipated to yield revenue exceeding ₹ 2000 crores throughout the project duration, reinforcing Raymond Realty's commitment to aggressive growth plans within the Real Estate sector in the Mumbai Metropolitan Region.

This latest addition to Raymond Realty's portfolio follows the signing of three joint development agreements for projects in Mahim, Sion, and Bandra, collectively valued at over ₹ 5000 Crore. With the inclusion of the MIG VI CHS Ltd project, the estimated Gross Development Value (GDV) of ongoing projects in Mumbai City escalates to approximately ₹ 7000 Crore, further solidifying the company's stature as a premier developer in the region.

The overwhelming support from the society members of MIG VI CHS underscores Raymond Realty's dedication to delivering luxurious living spaces and showcases its expertise in managing large-scale Society and MHADA redevelopment projects.

EQUITYBULLS





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