Mumbai: Miraya Realty, a rising force in Mumbai’s real estate sector, is preparing to unveil a high-end residential project worth ₹1,000 crore in Thane’s upscale Pokhran Road 2. With an ambitious vision to redefine luxury living in one of the fastest-growing real estate markets, the company has strategically acquired a prime 7-acre land parcel and aims to achieve ₹1,000 crore in sales within the first two years. The project, which is expected to set new benchmarks in premium housing, will be pre-launched within the next 30 days. This move signals Miraya Realty’s aggressive entry into the top-tier real estate segment, positioning it as a serious player in Mumbai’s ultra-luxury housing market.
The company was founded in 2022 by three stalwarts of the real estate industry—Rajesh Patel, Anil Mutha, and Hiren Chheda—who bring decades of expertise and an impressive track record of delivering high-value projects. Despite maintaining a low profile, the trio has collectively built over 5 million square feet of landmark developments, redefining industry standards through superior construction, innovation, and luxury. Patel, known for his execution prowess, has led RRC Ventures, a second-generation real estate company responsible for over 70 large-scale projects, including developments for industry giants like Hiranandani Group, Piramal Group, and Brookfield Properties. His ability to deliver projects with precision has been instrumental in shaping some of Mumbai’s most iconic townships, including Hiranandani Gardens in Powai and Hiranandani Estate in Thane.
Mutha, the founder of Nandivardhan Group, transitioned from the jewelry business into real estate two decades ago and quickly established himself as a leading figure in luxury residential development. His signature project, Maansarovar, a premium tower in Thane’s Panchpakadi, reflects his focus on exclusivity, high-end amenities, and elegant design. Over the years, he has developed more than 20 luxury residential projects across South Mumbai and Thane, earning a reputation for his ability to curate high-value properties for discerning buyers. Meanwhile, Chheda has played a pivotal role in transforming Thane’s commercial real estate landscape. Through his brand, Ekatva, he led the redevelopment of Wagle Estate, converting a defunct MIDC industrial zone into a thriving IT and business hub. His landmark commercial projects, including Opal Square and Centrum, are known for their high rental yields and premium infrastructure, reinforcing his status as a dominant force in the region’s commercial sector.
With this powerhouse team in place, Miraya Realty has taken a different approach to project execution. Unlike many developers who rely heavily on pre-sales for funding, Miraya Realty has demonstrated financial strength and long-term vision by prioritizing construction over immediate sales. By 2023, the company had secured all necessary approvals for its flagship project in Thane and chose to begin construction before launching the sales phase. This move sets it apart from conventional developers, highlighting the group’s ability to self-finance and focus on high-quality execution without external pressure.
Recognizing the importance of a strong sales strategy, Miraya Realty sought out a leader with a deep understanding of the high-end real estate market. Their search led them to Naresh Menghrajani, a prominent name in Thane’s luxury segment, who was brought on board as Sales Director. Menghrajani, the Founder-CEO of Royalti, has over 15 years of experience in premium property sales, having executed more than 2,500 transactions worth ₹3,000 crore. His team has consistently ranked as the top-performing sales partner for Hiranandani Group and Raymond Realty. In October 2024, he set a record by selling 54 luxury apartments worth ₹200 crore in just three days during the launch of Oberoi Garden City in Thane. His track record and alignment with Miraya Realty’s long-term vision made him the ideal choice to drive sales and establish the brand as a dominant player in luxury real estate.
As Miraya Realty prepares for its highly anticipated project launch, the company is also actively expanding its footprint in the Mumbai Metropolitan Region. With plans to develop projects worth a billion dollars over the next five years, the firm is aggressively pursuing land acquisitions and strategic partnerships to strengthen its position in the market. The long-term vision includes listing Miraya Realty on the stock exchanges by 2032, a move that reflects the company’s aspirations to become one of India’s most influential real estate brands.
With a team of seasoned industry leaders, a commitment to superior craftsmanship, and a bold, long-term growth strategy, Miraya Realty is set to make a lasting impact on Mumbai’s luxury real estate landscape. The upcoming project in Thane is expected to redefine high-end living, offering a world-class experience for buyers seeking exclusivity, sophistication, and unmatched quality in one of the city’s most sought-after locations.
