Mumbai, 14th July 2025 : In a significant
development for Mumbai’s luxury residential market, Piramal Realty, the real
estate arm of the Piramal Group, has completed the sale of a penthouse and
duplex apartments worth over ₹100 crores in a single transaction at its
flagship development, Piramal Mahalaxmi. This milestone transaction highlights
the sustained appetite for ultra-prime luxury homes in South Mumbai and
reaffirms Piramal Realty’s positioning as a leading luxury development in the
segment. This deal also marks the highest-ever single buyer transaction in the
project’s exclusive Magnificent Seven Penthouse Collection and reflects a
broader shift towards ultra-premium residences in Mahalaxmi – one of Mumbai’s
most sought-after micro-markets.
These high-value residences totalling over 13,000 sqft of carpet area
are located on the highest floors of the Central Tower, offering uninterrupted
views of the 225-acre Mahalaxmi Racecourse and the Arabian Sea. The transaction
arrives at a time when India’s luxury housing market is experiencing robust
momentum; as per CBRE South Asia, the luxury segment saw a 28% year-on-year
growth in Q1 2025 across the top seven cities in India.
Speaking on the development, Mr. Abhijeet Maheshwari, CEO,
Piramal Realty said:
"We’ve always believed that true luxury is a combination of location,
design, and trust. This transaction validates the long-term approach we adopted
at Piramal Mahalaxmi—delivering not just residences, but a thoughtful lifestyle
that resonates with evolved buyers. This landmark deal is a testament to our
promise of ultra-luxury living, as we continue to build India’s most admired
real estate company. We’re grateful to our buyers and partners who continue to
believe in our vision."
Located in the heart of South Mumbai, Piramal Mahalaxmi offers
ultra-luxury residences, anchored by lifetime views of Mahalaxmi racecourse and
a well-curated set of amenities including a unique 3 level helix shaped
clubhouse, swimming pools, children's play areas, fitness centres and much
more. The project also benefits from excellent infrastructure connectivity,
with proximity to the Coastal Road, Bandra-Worli Sea Link, Eastern Freeway, and
the upcoming Mahalaxmi metro station.
Born from a global collaboration with leading consultants such as
Callison RTKL (USA) for design, Architect Hafeez Contractor, Conran &
Partners UK for interior design and Capacit’e Infraprojects as construction
partners, Piramal Mahalaxmi is a celebration of contemporary luxury and
community-focused living in the heart of South Mumbai
With this transaction, Piramal Realty reinforces its position as one of
the key players shaping the ultra-luxury residential market in South Mumbai.
The company remains focused on creating developments that offer long-term value
through thoughtful design, strategic location, and consistent delivery.
About Piramal Realty:
Founded in 2012, Piramal Realty, the real estate development arm of
Piramal Group is one of India's leading developers with 13 Mn. sq. ft. of
residential real estate under development in and around Mumbai. Piramal Realty
aims to set gold standards in architectural design, quality, safety, and customer
centricity in both residential and commercial real estate. Piramal Realty's
innovative developments not only capture a cutting-edge and contemporary ethos
but also aim to adopt a more intuitive interpretation of luxury. This
distinctive approach celebrates the harmonious integration of nature, greenery,
spaciousness, natural light, ventilation and the inherent connection with
biophilia encapsulating the essence of community living.