Piramal Realty, the real estate arm of the Piramal Group, has announced the appointment of Abhijeet Maheshwari as its Chief Executive Officer (CEO).
With a career spanning over 18 years, Maheshwari joins Piramal Realty from Tata Realty Infrastructure Limited (TRIL) where he played a pivotal role in the company’s growth and success.
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A distinguished alumnus of the prestigious TAS leadership programme (batch of 2006), Maheshwari brings a wealth of experience across various facets of the real estate industry.
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His expertise spans the entire real estate spectrum encompassing business development, fundraising, approvals, design, sales, leasing, execution, and delivery in residential, retail, and commercial sectors.
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Founded in 2012, Piramal Realty, the real estate arm of Piramal Group is one of the country’s leading developers with 13 mn sq ft of residential real estate under development in and around Mumbai.
Some of Piramal Realty’s projects include Piramal Aranya (Byculla), Piramal Mahalaxmi (Mahalaxmi), Piramal Vaikunth (Thane), and Piramal Revanta (Mulund).
Property registrations in the Mumbai real estate market grew by more than 11% to 11,443 in June 2024 from 10,319 a year earlier, according to the data shared by the Inspector General of Registration and Controller of Stamps of Maharashtra. In May 2024, a total of 12,000 property registrations were reported in the Mumbai real estate market.
Stamp duty collections from property registrations in Mumbai real estate market went up by over 15% to 986 crore in May 2024 from ₹859 crore last year in June 2023, according to the Maharashtra government data. In May 2024, the stamp duty collections stood at ₹1,034 crore.
Mumbai recorded the third highest year-on-year (YoY) growth in prime residential prices in Q1 2024, pushing it up the ranking table by three places to 3rd position from its 6th position in Q1 2023, Knight Frank’s Prime Global Cities Index showed.
