Raymond Realty, the Mumbai-based listed real estate developer, has announced the launch of a residential redevelopment project in Wadala, Mumbai, with an estimated revenue potential of around Rs 50 billion. The project, titled “The Address by GS, Wadala”, will be developed on a 5.62-acre land parcel, according to a regulatory filing.

The development will feature 31-storey towers offering premium two- and three-bedroom luxury residences, along with approximately 10,500 square feet of high-street retail space. The project will also include a recreational area of around 170,000 square feet and a clubhouse spanning about 45,000 square feet. The company has not disclosed the total project cost or the number of apartments planned.

Amenities at the project will include a swimming pool, lounge deck, golf simulator, mini theatre, badminton and squash courts, bowling alley, banquet facilities and multiple social and wellness zones, positioning the development as a large-format lifestyle residential ecosystem.

Commenting on the launch, Harmohan Sahni, Chief Executive Officer of Raymond Realty, said the project marks a strategic move to expand beyond established luxury micro-markets and actively shape Mumbai’s emerging growth corridors. He noted that the estimated revenue potential strengthens the company’s long-term value creation pipeline while reinforcing its asset-light expansion strategy.

The project has received approval under the Real Estate Regulatory Authority (RERA) framework and is aligned with Indian Green Building Council sustainability standards. From a connectivity perspective, the development offers access to the Eastern Freeway and the Mumbai Trans Harbour Link, enabling faster connectivity to key business districts and the airport across the harbour.

The location is also close to the monorail and the upcoming Metro Lines 4 and 11, enhancing multi-modal mobility. This makes the project attractive for professionals working in Bandra Kurla Complex, Lower Parel and South Mumbai, as well as high-net-worth individuals and investors seeking high-growth rental micro-markets.

The launch underscores Raymond Realty’s focus on scaling its portfolio across high-quality urban locations, with an emphasis on disciplined capital deployment and execution-led growth in Mumbai’s evolving residential real estate landscape.