Raymond Realty Launches Rs. 3,000 Cr Kandivali Residential Project

Raymond Realty Limited has signed definitive agreements to jointly develop a residential project in Kandivali, Mumbai, with an estimated gross development value (GDV) of ₹3,000 crore, according to a company statement dated March 9, 2026.

This project is the company’s third residential venture in Mumbai’s Western Suburbs and represents its seventh Joint Development Agreement (JDA) in the city, aligning with the company’s strategic expansion plan.

The development will feature premium residential units, providing modern amenities for high-end buyers.

Key Highlights

• Raymond Realty launches Kandivali residential project with ₹3,000 crore GDV
• The project marks the company’s 7th Joint Development in Mumbai
• Previous Wadala project had ₹5,000 crore revenue potential with luxury amenities

While project-specific floor plans or tower heights are not disclosed yet, it is expected to maintain Raymond Realty’s standard of luxury and quality. Earlier, in January 2026, the company had announced the launch of ‘The Address by GS, Wadala’, a redevelopment project with a revenue potential of ₹5,000 crore, spread across a 5.62-acre land parcel.

Also Read: Raymond Realty to Launch Rs. 14,000 Cr Projects Post-Demerger

The Wadala project includes 31-storey towers, offering premium 2- and 3-BHK luxury residences, a 10,500 sq ft high-street retail area, a recreational area of 1.7 lakh sq ft, and a clubhouse of 45,000 sq ft. This underlines Raymond Realty’s commitment to premium, amenity-rich developments in Mumbai.

The Kandivali project further strengthens the company’s presence in Mumbai’s competitive real estate market, especially in the Western Suburbs, where demand for luxury housing and high-quality amenities continues to grow.

 “As we continue to scale our portfolio across high-quality urban locations, we are on track to compound growth with execution excellence and disciplined capital deployment, while delivering strong end-user demand and sustained investor returns. The project is poised to contribute substantially to the Company's future growth and solidify its presence as a key player in the city. With this addition, the Gross Development Value of Real Estate projects of the company will be close to Rs. 43,000 crores," said Harmohan Sahni, the CEO of Raymond Realty.

Also Read: Raymond Realty Targets Rs 5,000 Cr From Mumbai Luxury Homes

Raymond Realty’s ongoing focus on strategic joint development projects enables the company to optimize land utilization, minimize upfront costs, and accelerate project timelines while catering to premium homebuyers.

Statistics, Data, and Insights

Project Data & Figures:

• Kandivali GDV: ₹3,000 crore
• Wadala redevelopment project: GDV ₹5,000 crore, land parcel 5.62 acres
• Wadala towers: 31-storey, 2- & 3-BHK units, 10,500 sq ft retail space, 1.7 lakh sq ft recreational area, 45,000 sq ft clubhouse

Additional Insights:

• Kandivali’s Western Suburbs market is witnessing rising demand for luxury residential developments, driven by connectivity to the Western Express Highway and suburban infrastructure.
• JDAs allow faster project delivery, which attracts investors and end-users seeking premium housing.
• Raymond Realty continues to focus on premium residential portfolios in Mumbai, complementing earlier projects like Ivory County and Jade County in Noida/Ghaziabad, reflecting its multi-city strategic expansion.