Raymond Realty's presence on Pokhran Road No. 2 traces back to land that Raymond Limited held in Thane for decades around its erstwhile JK Files manufacturing operations. That holding, once industrial backyard, is now the base of a separate listed company. Raymond Realty has around 100 acres of land in Thane with approximately 11.4 million sq ft RERA-approved carpet area of which about 40 acres is currently under development. Roughly 40 acres are under active development and another 60 acres are reserved for future projects. The real estate business was carved out through a formal demerger: the demerger was effective May 1, 2025, with shareholders getting one share of the new company for every Raymond share held. For a buyer, this matters because it changes who stands behind a Pokhran Road No. 2 purchase — not a textile major's side business, but a dedicated, separately listed developer whose only job is to deliver on this land.
Within Pokhran Road No. 2 itself, Raymond Realty's most visible delivered project is TenX Habitat. Spread over an area of 14 acres, Raymond Realty Ten X Habitat Pokhran 2, Thane is one of the spacious housing societies in the Thane region. The scale is unusual for the immediate locality — Raymond Realty Ten X Habitat Pokhran 2 has 11 towers, with 42 floors each and 3101 units on offer. It is not a project still on paper: Raymond Realty Ten X Habitat in Pokhran 2, Thane is a ready-to-move housing society. The configurations are compact by design — there are 1BHK and 2BHK apartments available in this project — which has made it one of the reference points for rental demand in the micro-market, alongside Serein by Tata Housing and One Indiabulls, popular projects that offer highest rental yield in Pokhran 2.
Raymond Realty has not treated its Thane land as a single project but as a phased township running across Pokhran Road No. 1, Pokhran Road No. 2, JK Gram, Panch Pakhadi and the Cadbury Junction stretch — all within a short drive of each other. TenX Era, on Pokhran Road No. 1, carries a launch date of February 2023, and its possession date is January 2029, and sits right next to Viviana Mall and the Eastern Express Highway. The Address by GS brought larger formats to the same corridor, with 3 BHK, 4 BHK, 5 BHK and 6 BHK apartments starting at 2.44 Cr, with earliest possession by December 2025, while its second phase, Address Season 2, was built as two high-rise towers, 40 floors each. Invictus by GS pushed the portfolio further upmarket, offering 3 BHK, 4 BHK, 5 BHK configurations with a carpet area of 1,100 to 2,730 sq.ft, possession in December 2028, and folding in an 85,000 sq. ft. High Street Retail space. On the more accessible end, District 9 at JK Gram offers smart-sized 2 BHK homes ranging from 632 sq.ft to 810 sq.ft, priced at 1.45 Cr, 1.54 Cr and 1.83 Cr, spread across a 9-acre development. Taken together, this cluster is what gives Pokhran Road No. 2 its density of Raymond-branded supply rather than a single standalone tower.
Buyers evaluating a developer on delivery risk have unusually current numbers to look at, because Raymond Realty only recently became a stand-alone reporting entity. In the fourth quarter of FY25, Raymond Realty reported revenue of Rs 766 crore, up 13% from Rs 677 crore in Q4 FY24, with EBITDA margin improving to 25.3%. Bookings in that quarter were Rs 636 crore, primarily driven by demand for The Address by GS 2.0, Invictus & Park Avenue – High Street Retail in Thane, all part of the same Pokhran Road ecosystem. On land value alone, the company has said the total potential revenue from its current real estate business is now close to Rs 40,000 crore, which includes Rs 25,000 crore from its Thane land parcel and Rs 14,000 crore from a JDA-led model covering sites the company has since signed in Bandra, Sion, Mahim and Wadala. In other words, Thane — and Pokhran Road specifically — remains the anchor asset even as Raymond Realty expands into Mumbai through joint development.
Pokhran Road No. 2's pull for a Raymond buyer is inseparable from what surrounds it. The locality sits close to two of Thane's primary arterial roads — one listing places it 1.5 km from Thane Ghodbunder Road and 1 km from the Eastern Express Highway. The upcoming metro adds a second layer of access: Raymond's own marketing of the cluster notes that Cadbury Junction is only a 5-minute walk from the future Metro Line 4, and the broader locality benefits from proximity to the nearby Majiwada metro station. Viviana Mall, one of Thane's largest retail destinations, sits directly adjacent to the Raymond cluster, and important landmarks near the project include Jupiter Hospital, Fortune Park Lake City and Viviana Mall. Schooling options are similarly established, with C.P. Goenka International School and Smt. Sulochanadevi Singhania School both within reach.
Pokhran Road No. 2 already trades at the upper end of Thane's residential market. Average property rates per square foot in Pokhran 2, Thane for flats stood around Rs 24,400 per sq ft, a figure corroborated separately at an average property price of Rs 23,800 per sq ft, making it one of the costliest localities in Thane. Movement over time has been steady rather than sharp: flat rates in Pokhran 2 changed by -0.6% in the last 1 year, 14.0% in the last 3 years, 39.0% in the last 5 years and 34.4% in the last 10 years. For 2 BHK and 3 BHK formats, prices range from Rs 1.3 crore to Rs 3.5 crore, while the average rental yield in Pokhran 2, Thane is 3% — a number that tracks with the presence of ready, professionally managed stock like TenX Habitat in the immediate vicinity.
Choosing a Raymond Realty home on Pokhran Road No. 2 is less about a single tower and more about buying into a land bank the company has been developing in phases for over a decade, now backed by the balance sheet and reporting discipline of an independently listed company, sitting on a stretch of Thane with established highway access, an incoming metro line, and retail and healthcare infrastructure already built out around it.