Raymond Realty is all set to invest ₹250 crore to develop its first residential project in Thane on 20-acre land.
The residential project which was announced on Wednesday will be developed in two phases with the first phase comprising of 3000 mid-housing units in 10 42-storey towers spread over 14 acres. Each of these flats is expected to cost ₹1.06-₹1.25 crore and the latter phase will include premium houses spread across six-acres.
Revenue worth ₹3,500 crore is expected to be generated in the first phase with a profit margin of 25 per cent in the next five years.
Notably, renowned industrialists like Tata, Godrej, Mahindra, Bombay Dyeing and Emami are in the real estate market. Raymond being the biggest face in the textile industry in India with over 1,000 stores in 400 cities, is all set to explore new avenues in real estate.
Raymond Realty is all set to invest ₹250 crore to develop its first residential project in Thane on 20-acre land.
The residential project which was announced on Wednesday will be developed in two phases with the first phase comprising of 3000 mid-housing units in 10 42-storey towers spread over 14 acres. Each of these flats is expected to cost ₹1.06-₹1.25 crore and the latter phase will include premium houses spread across six-acres.
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Revenue worth ₹3,500 crore is expected to be generated in the first phase with a profit margin of 25 per cent in the next five years.
Notably, renowned industrialists like Tata, Godrej, Mahindra, Bombay Dyeing and Emami are in the real estate market. Raymond being the biggest face in the textile industry in India with over 1,000 stores in 400 cities, is all set to explore new avenues in real estate.
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