Miraya Realty set to launch a Rs1000 Crore Real Estate Development in Thane

VMPL
New Delhi [India], March 27: In 2022, three stalwarts of the real estate industry--Rajesh Patel, Anil Mutha, and Hiren Chheda--came together with a shared vision to create world-class developments, combining their expertise, experience, and passion for excellence. This elite team, despite maintaining a low profile, has collectively delivered over 5 million sq. ft. of landmark projects, redefining industry standards.
The Visionaries Behind Miraya Realty
Rajesh Patel - The Execution Genius
The most understated yet experienced of the trio, Rajesh Patel leads RRC Ventures, a second-generation real estate company with a legacy spanning over four decades. RRC Ventures has developed over 70 large-scale projects, covering more than 50 million sq. ft., for prestigious developers like Hiranandani Group, Piramal Group, and Brookfield Properties. Recognized as an "Execution Genius", his expertise in high-quality construction and timely delivery has been integral to the creation of iconic developments such as Hiranandani Gardens, Powai, and Hiranandani Estate, Thane.
Anil Mutha - The Connoisseur of Luxury
Founder of Nandivardhan Group, Anil Mutha transitioned from the jewelry industry to real estate two decades ago, establishing himself as a pioneer in premium residential developments. His flagship project, Maansarovar--a luxury tower in Thane's Panchpakadi--showcases his focus on exclusivity and elegance. With over 20 high-end residential projects across Thane and South Mumbai, Anil has earned his reputation as a "Connoisseur of Luxury" in the real estate space.
Hiren Chheda - The Commercial Czar of Thane
A visionary in commercial real estate, Hiren Chheda has transformed Wagle Estate from a defunct MIDC industrial zone into a thriving IT and business hub. Through his brand, Ekatva, he has delivered premium commercial projects like Opal Square and Centrum, which are celebrated for their superior construction and high rental yields. Known as the "Commercial Czar of Thane", his expertise has reshaped the city's commercial real estate landscape.
The Birth of Miraya Realty
With this powerhouse team in place, the group acquired a 7-acre prime land parcel on Pokhran Road 2, Thane, envisioning a landmark project that would catapult Miraya Realty into the league of India's top-tier developers. This project would serve as the blueprint for future developments, reinforcing their commitment to excellence, quality, and innovation.
By 2023, after securing all approvals, the company made a bold strategic move--prioritizing construction over immediate sales. Unlike most developers who rely on pre-sales for funding, Miraya Realty demonstrated financial strength and long-term vision by focusing on project execution before entering the market.
The Missing Piece: A Sales Visionary
To complement their strengths, the team sought a sales leader with long-term vision and expertise. Their search led them to Naresh Menghrajani, a renowned name in Thane's luxury real estate market. As the Founder-CEO of Royalti, Naresh boasts over 15 years of experience, having executed 2,500+ deals worth Rs3,000 crores. His team was consistently recognized as the #1 partner for Hiranandani Group and Raymond Realty, and in October 2024, he set a record by selling 54 luxury apartments worth Rs200 crores in just three days during the launch of Oberoi Garden City, Thane.
What impressed the developers most was not just his credentials, but his conviction and alignment with their long-term vision. After extensive discussions, Naresh was onboarded as Sales Director, solidifying a long-term partnership to drive Miraya Realty's success.
The Road Ahead for Miraya Realty
This powerhouse collaboration is now operating under the brand "Miraya Realty." The name "Miraya"--inspired by Spanish influences--means "to be worthy of admiration." True to its name, the team aspires to set new benchmarks in real estate.
Within the next 30 days, Miraya Realty will pre-launch its flagship luxury project on Pokhran 2, Thane, targeting Rs1,000 crores in sales within the first two years. The company has ambitious goals: to develop projects worth a billion dollars over the next five years, eventually listing Miraya Realty on the stock exchanges by 2032.
Actively pursuing land acquisitions and partnerships, Miraya Realty is poised to redefine luxury real estate in the MMR region. With proven expertise, a forward-thinking approach, and a commitment to unmatched quality and execution, the brand is set to deliver compelling projects backed by exceptional design, superior craftsmanship, and a world-class sales experience.
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