India, Jan. 21 -- Mumbai-based, listed real estate developer Raymond Realty on January 21 announced the launch of a residential redevelopment project in Wadala, Mumbai, with a revenue potential of Rs.5,000 crore. The project, titled 'The Address by GS, Wadala', will be developed on a 5.62-acre land parcel, the company said in a regulatory filing.

"... The project carries an estimated revenue potential of Rs.5,000 crore...," the company said.

It did not mention the total number of apartments in this project, nor did it disclose the project cost.

According to the company, the development features 31-storey towers offering premium 2- and 3-BHK luxury residences, along with 10,500 sq ft of high-street retail space. The project will have a ...