Raymond Realty sets a new benchmark in real estate sector in India
Completes its maiden project in record period of 24 months ahead of RERA deadline
Saturday, December 10, 2022: Raymond Realty marked a momentous milestone to celebrate the completion of TenX habitat towers, the maiden project of the group’s real estate venture. The first three towers in the project have been completed 24 months ahead of RERA timelines. This aspirational project envisaged to elevate the benchmark of living standards in Thane was launched in 2019 and designed by renowned architect Hafeez Contractor. TenX Habitat are currently the tallest towers in Thane skyline of 42 floors comprising of 10 towers.
A first few buyers were handed over the keys to their exquisite flats by Gautam Hari Singhania, Chairman and Managing Director, Raymond Group, during the event. Speaking on the occasion he commented; “Having commenced the possession process for our maiden project is a significant milestone for Raymond Realty. We made a commitment last year in October that we shall deliver a part of the project today and I am delighted that we lived up to our promise. Today, we have also set an industry benchmark by delivering 3 towers 24 months ahead of RERA deadline. The real estate business is our newest business which we launched during COVID and battled headwinds and emerged stronger as one of the leading developers in Thane.”
The project has been designed on principles of sustainability, modern architecture and contemporary design. Located in the heart of the city at Pokhran Road, the project offers access to social infrastructure such as Singhania Schools, hospital, malls, retail and connectivity with major arterial roads such as the Eastern Express Highway, Ghodbunder Road and Mumbai-Nashik Highway, while also celebrating a new way of living life that lets residents escape from the urban realm.
Harmohan Sahni, CEO, Raymond Realty commented; Last month, Raymond Realty topped the IndexTap Premier League Chart for Thane region. The group’s premiere real estate projects - The Address by GS and TenX Habitat - have bagged the first and the second position in Thane city region with 78 and 124 units sold worth ₹201 crores and ₹147 crores, respectively. This achievement stands in line with Raymond Realty showcasing a strong sales growth by three-fold to ₹245 crores from ₹81 crores compared with the previous year in the second quarter. The realty segment also reported a quarterly EBITDA margin of 25.8%.
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