RAYMOND TEN X REALTY EAST (WADALA RESIDENTIAL PROJECT) — New Project Coming Up in Wadala, Mumbai
Raymond Enters Wadala with ₹5,000 Crore Residential Project
On 1 April 2025, Raymond Ltd announced that its step-down subsidiary, Ten X Realty East Ltd, has entered into a Joint Development Agreement for an upcoming residential project in Wadala, Mumbai. The project spans 5.62 acres and will be Raymond's first residential project in Wadala, marking a significant expansion of the developer's footprint within the Mumbai Metropolitan Region.
Development Scale and Scope
The project carries an estimated gross development value of ₹5,000 crore. It is Raymond's sixth joint development project outside its ongoing real estate developments in Thane. With this, the company's aggregated gross development value across its real estate projects will cross nearly ₹40,000 crore.
Developer Background
Since 1925, Raymond has stood for craftsmanship that lasts generations, and today Raymond Realty carries that legacy forward as a luxury real estate developer in Mumbai and Thane. Having transitioned from a fabric manufacturer in 1925 to a diversified entity, Raymond Limited now focuses on real estate and engineering after demerging its Lifestyle Business in 2024. The company is among the top 10 real estate developers in India.
Strategic Location
Wadala occupies a central position in Mumbai with emerging residential appeal. Proximity to Eastern Freeway, Eastern Express Highway, metro corridor, and emerging commercial activity enhances its relevance within MMR — making it one of the most future-ready upcoming residential zones in Mumbai. Commuting remains convenient through the Monorail, suburban railway, and the Eastern Freeway. Wadala real estate market continues to command stable property values, with average rates in the ₹22,000-30,000 per sq ft range.
Project Execution
The project will be executed through its wholly-owned step-down subsidiary, Ten X Realty East Ltd, and represents Raymond's first foray into Wadala's real estate landscape. This strategic initiative aligns with the company's broader growth objectives within MMR, and the project is expected to significantly contribute to Raymond's expansion and strengthen its position as a key player in the city's booming property sector.