Mumbai Launch Pipeline
Raymond Realty Mahim 1: Pre-Launch Residential Project in Mahim, Mumbai
Raymond Realty's Mahim 1 is a residential project in Mahim West, Mumbai, and remained in pre-launch as of October 2026. The developer plans to launch two joint development agreement projects in Mahim during the second half of FY27, and Mahim 1 is the first of the two.
| Developer | Raymond Realty Limited. The Mahim West agreement was signed by Ten X Realty West Limited, a 100 per cent owned step-down subsidiary of Raymond Ltd (as of February 2025 filing) |
|---|---|
| Status (as of October 2026) | Pre-launch. No launch has taken place yet |
| Planned launch | Second half of FY27, which runs from October 2026 to March 2027 |
| Location | Mahim West, Mahim, Mumbai, Maharashtra 400016 |
| Product type | Residential, developed under a joint development agreement (JDA) |
| Project value (GDV) | ₹1,800 crore |
| RERA carpet area | 0.41 million sq ft, as stated in the developer's Q2 FY27 disclosure |
Launch status
Mahim 1 has been listed as pre-launch, and the developer has not yet opened bookings for it. In the July to September 2026 quarter, Raymond Realty reported pre-sales of ₹902 crore, up 98 per cent year on year, but it launched no new projects in that period and relied on its existing Address by GS portfolio.
The company's own guidance puts the two Mahim launches in the second half of FY27. Management has said the two projects together carry a gross development value of more than ₹4,100 crore, and the company's Q2 release refers to the first one as Mahim Project 1.
Management has also indicated price increases of 6 to 8 per cent for its upcoming inventory. This is a company-wide pricing stance and is not a price for Mahim 1.
Developer and land deal
In February 2025, Raymond Ltd disclosed in a regulatory filing that its wholly owned step-down subsidiary, Ten X Realty West Ltd, had signed a joint development agreement for a residential project in Mahim West, with estimated revenue potential of about ₹1,800 crore. The filing did not name the landowner, the land size or the total development potential.
An earlier filing from October 2023 said Ten X Realty Ltd had been chosen as preferred developer for the redevelopment of Kumari Jethi T Sipahimalani CHS Ltd, also known as Navjivan Society, in Mahim West. That site was described as spread across 3.6 acres. Public reports present the two Mahim West agreements as separate items, and this page does not treat the 3.6-acre society site as confirmed land for Mahim 1.
Raymond Ltd has said the project will be developed under the company's asset-light model, which uses joint development agreements with landowner partners rather than outright land purchases.
Scale of the two Mahim projects
The company has disclosed figures for both Mahim JDA projects. Together they add up to about 0.80 million sq ft of RERA carpet area.
| Project | Gross development value | RERA carpet area |
|---|---|---|
| Mahim 1 | ₹1,800 crore | 0.41 million sq ft |
| Mahim 2 | ₹2,300 crore | 0.39 million sq ft |
| Combined | Over ₹4,100 crore | 0.80 million sq ft |
Locality and demand
Mahim West is a established residential area on Mumbai's western suburban coast. Average flat prices in Mahim West were about ₹49,400 per sq ft (carpet) in the July to September 2026 quarter, up from about ₹47,150 in January to March 2026. Over the past year, average prices in Mahim West have risen about 5.9 per cent, and over three years about 22 per cent, according to listing-based data.
Mahim is a Mumbai neighbourhood where new projects are typically compared with older societies and redevelopments nearby, and recent sales data for the wider area shows continued price growth.
Transport and nearby infrastructure
Mahim Junction station is on the Western and Harbour lines of the Mumbai suburban railway network. Bandra station, also on these lines, serves the Bandra suburban area and the Bandra Kurla Complex (BKC) business district, which is about 6 km from Mahim.
Metro Line 3 has a station at Shitladevi Temple in the Mahim area. The 33.5 km underground corridor runs from Colaba to SEEPZ with 27 stations, and Bandra Colony station opened on 5 October 2024.
The Bandra-Worli Sea Link was completed in June 2009 and links Bandra in the north with Worli in the south. The first phase of the Coastal Road, covering 10.58 km from Princess Street flyover to the Worli end of the sea link, opened on 11 March 2024. The Versova–Bandra Sea Link is under construction and is expected to be completed in 2027.
Developer track record
Raymond Realty received the occupation certificate for Address by GS Season 1 Tower B in Thane in the July to September 2026 quarter. The tower has 270 units and 3,44,478 sq ft of RERA carpet area, and was completed about 18 months ahead of its proposed March 2028 RERA completion date.
The company describes its portfolio as 100 acres of owned land, eight joint development agreements and an estimated gross development value of about ₹52,000 crore.
Frequently asked questions
When will Raymond Realty Mahim 1 launch?
The company has said it plans to launch its two Mahim joint development projects during the second half of FY27, which runs from October 2026 to March 2027. As of October 2026, the project remains in pre-launch.
Who is developing Mahim 1?
The Mahim West agreement was signed by Ten X Realty West Limited, a step-down subsidiary of Raymond Ltd. Raymond Realty Limited is the listed real estate company that now runs the business.
What is the RERA area of Mahim 1?
The developer's Q2 FY27 disclosure gives a RERA carpet area of 0.41 million sq ft for the first Mahim project, with a gross development value of ₹1,800 crore.
Where exactly is Mahim 1 located?
The project is in Mahim West, Mumbai, with the postal code 400016. Mahim Junction station and Bandra station are the nearest suburban rail stations.
Is the Navjivan Society site the land for Mahim 1?
This page does not treat the 3.6-acre Navjivan Society redevelopment as confirmed land for Mahim 1. The 2023 and 2025 Mahim West agreements are reported as separate items.