Raymond Realty plans a residential project in Mahim West, Mumbai

Raymond Realty signs development agreement for Mahim West site

Raymond Ltd has disclosed in a regulatory filing that its wholly owned step-down subsidiary, Ten X Realty West Ltd, has signed a joint development agreement for a residential project in Mahim West, Mumbai. The agreement was disclosed in February 2025 and marks the group's second residential development in the locality.

The project, promoted under the Raymond Realty banner as Raymond Realty Mahim, is planned as a set of luxury apartments on Kapad Bazar Road in Wanjawadi, Mahim West. The first Mahim project carries a gross development value of around ₹1,800 crore and a RERA area of 0.41 million square feet. The developer is preparing for a pre-launch in the second half of FY27.

Project details and configurations

The development sits on a 3.6-acre land parcel and is planned as a residential project of 2 BHK and 3 BHK apartments. Pricing is available on request, and the developer has not yet opened bookings. The project is at the joint development stage and is not yet launched.

The planned amenity programme is extensive and covers recreation, fitness and community use. Residents can expect:

• Swimming pool, gymnasium and landscaped gardens
• Jogging and cycling tracks and a children's play area
• Basketball and tennis courts and other outdoor sports facilities
• A grand clubhouse with a mini theatre, meditation pod, cafeteria and skating rink
• A large community hall for events and gatherings
• An amphitheatre and step garden
• 24/7 security, power backup and smart home features
• Rainwater harvesting, energy-efficient lighting and waste management systems

Specifications highlighted for the homes include an earthquake resistant RCC frame structure, vitrified flooring in living and dining areas, wooden flooring in master bedrooms and anti-skid tiles in bathrooms and balconies. Kitchens are planned with modular fittings, granite countertops and stainless steel sinks, along with provisions for a chimney, RO purifier and exhaust fan. Bathrooms are designed with wall-mounted WCs, glass partitions and premium sanitaryware from brands such as Jaguar and Kohler.

The layouts emphasise column-free planning, all-day natural light and cross ventilation. For readers tracking the wider Raymond Realty pipeline in the area, the earlier listing for Raymond Realty Mahim West Mumbai provides the project's current overview.

Location and connectivity

Mahim West sits within the Mahim area, which is bounded by the Arabian Sea to the west, Bandra to the north, Matunga and Dadar to the south and Sion to the east. Mahim railway station, on the Western and Harbour lines of the Mumbai suburban network, is the nearest rail link. Thane railway station lies about 5.7 km away and Mulund about 8.8 km.

Road access is via the Western Express Highway. The upcoming Kapurbawdi Metro Station is about 2.2 km from the site, and the existing Shitala Devi Mandir Metro Station is listed among the nearby stations. Chhatrapati Shivaji Maharaj International Airport is around 25.8 km away. Bandra, Dadar and Lower Parel are the main business and commercial areas within easy reach.

Nearby institutions and open spaces include Victoria High School, Fortis S L Raheja Hospital and Mahim Beach. The locality's average rate is around ₹49,400 per sq ft, according to recent market reporting.

About Raymond Realty

Raymond Ltd began in 1925 as a small woollen mill near Thane Creek. Raymond Realty formally launched its first project in 2019, initially rooted in Thane. The group now holds six redevelopment projects and around 100 acres of land in Thane.

In the second quarter of FY27, the company reported pre-sales of ₹902 crore and collections of ₹682 crore. Its Thane tower, Tower B of The Address by GS Season 1 with 270 units and RERA carpet area of about 344,478 sq ft, received its occupation certificate around 18 months ahead of its March 2028 RERA completion date. Its Mumbai portfolio includes The Address by GS in Bandra, The Address by GS in Wadala and Invictus. In Thane, it has Ten X Habitat in Thane West and Ten X District 9 at Cadbury Junction.

Timeline and what comes next

• 7 February 2025: joint development agreement disclosed, with revenue potential of about ₹1,800 crore
• 1 July 2025: two joint development agreements in Mahim and Wadala announced, with combined gross development value of about ₹6,800 crore
• October 2026: Mahim launches planned for FY27 with a combined gross development value of ₹4,100 crore
• 5 October 2026: first Mahim project set at ₹1,800 crore gross development value
• 22 October 2026: pre-launch of the first Mahim West project scheduled for the second half of FY27

The next milestones for Raymond Realty Mahim are the pre-launch in the second half of FY27, the opening of bookings and the announcement of pricing and unit sizes. Buyers following the project can expect further details as the launch date approaches.