Chandru Lachmandas Raheja and Family

K Raheja Corp built the office parks where India's technology industry set up operations. The rent they generate outlasts any single tenant.

The Raheja family transformed what began as a Mumbai real estate business into K Raheja Corp, one of the country's more versatile property developers with significant positions in commercial offices, retail malls and residential development. The Mindspace brand of office parks, developed across Mumbai, Pune, Hyderabad and Chennai, became one of the more recognisable addresses for technology companies setting up or expanding India operations during the outsourcing growth of the 2000s and 2010s. Mindspace Business Parks was separately listed in 2020 as a real estate investment trust, giving institutional and retail investors direct exposure to the office rental income stream.

The InOrbit mall portfolio operates in a different part of the real estate market, where footfall, tenant mix and catchment area demographics determine performance. Running both commercial and retail real estate alongside residential development requires different leasing strategies, different financing structures and different relationships with occupants. That the family has sustained credibility in each of these product categories across multiple cities reflects a depth of real estate operating experience that is less common than the number of active developers in India might suggest.