The real estate mart may be going through tough times, but it is never too late to get into this business especially if you have a land bank of your own.
Textile major Raymond's board has approved the development of 15-20 acres of the company's surplus land at Thane near Mumbai for the development of residential projects.
While announcing the development, Raymond's Chairman and Managing Director Gautam Singhania said, the housing projects would be in the affordable housing category.
“The company aims to develop a residential property on its own with the consultation of Hafiz Contractor. The idea is to offer to 2-3 BHK affordable housing. The funds for the project would be arranged internally and the project is expected to kickstart in 3-6 months time,” Singhania said. 
But it remains unclear whether it is just an idea to unlock the shareholder value or first step into a big foray into real estate market.