Raymond Realty Expands Mumbai Portfolio with INR 3,000 Crore Joint Development in Kandivali
Raymond Realty has signed definitive documents to jointly develop a residential project in Kandivali, Mumbai, with an estimated gross development value of about INR 3,000 crore. The company announced this in a regulatory filing earlier this week. This project will be undertaken through a joint development arrangement and represents the seventh such partnership undertaken by the developer in Mumbai.
The company did not disclose the name of the landowning partner or the size of the land parcel involved in the agreement. However, the development is expected to contribute significantly to Raymond Realty's growing residential portfolio in the Mumbai metropolitan region. Following this addition, the total gross development value of projects within the company's real estate pipeline is expected to reach close to INR 43,000 crore.
Raymond Realty, part of the Raymond Group, has been expanding its presence in Mumbai through joint development agreements with landowners. This strategy allows developers to undertake large housing projects in land-constrained urban markets without outright land acquisition. The Kandivali project marks the developer's third development in Mumbai's western suburbs under such arrangements and continues its strategy of building residential supply in established city locations.
Separately, real estate developer County Group has announced the launch of 'Clove County', a luxury residential project in Sector 151, Noida, located along the Noida-Greater Noida Expressway. The development involves an investment of more than INR 1,200 crore and will be built on a five-acre land parcel.
The project will comprise 226 apartments distributed across three towers and will feature large-format residences targeting the premium housing segment. Planned configurations include 4BHK units measuring around 4,077 sq ft and larger apartments ranging between about 5,310 sq ft and 6,417 sq ft. Apartment prices are expected to range between approximately INR 10 crore and INR 18 crore depending on size and configuration.
County Group had acquired the five-acre land parcel for the project in 2025 for around INR 473 crore, with the total development area estimated at more than 11 lakh sq ft. The project has been planned as a low-density development with a significant proportion of open space, landscaped areas, and water features integrated into the site layout.
The Noida development is located near the Noida-Greater Noida Expressway and in proximity to Sector 148 metro station, with connectivity to the upcoming Noida International Airport expected to support accessibility for residents. Amenities proposed for the project include sports and recreational facilities such as tennis and badminton courts, pickleball courts, a cricket pitch, and landscaped pedestrian zones.
The two announcements highlight ongoing residential development activity in key urban markets. Developers are pursuing joint development partnerships in land-scarce cities such as Mumbai while continuing to introduce high-value residential projects in expanding NCR markets like Noida.
