Piramal Realty has launched Phase 2 of its integrated residential development, Piramal Vaikunth, in Balkum, Thane, with an estimated Gross Development Value (GDV) of approximately โน4,700 crore, reinforcing its long-term commitment to one of the Mumbai Metropolitan Region’s fastest-growing residential markets.
The second phase, with an estimated project investment of โน3,600 crore, begins with the launch of its first residential tower offering two and three-bedroom homes. The project is located adjacent to the 21-acre NaMo Grand Central Park and builds on the infrastructure created during the first phase of the township.
The launch follows the completion of a significant portion of Phase 1, under which Piramal Realty has delivered 14 residential towers comprising around 3,000 homes since the first handover in November 2022. The township also houses Thane’s first ISKCON temple within a residential development, a 50,000 sq. ft. clubhouse, and supporting social and physical infrastructure.
The expansion comes as Balkum continues to emerge as a key residential micro-market, driven by multiple infrastructure projects aimed at improving connectivity across the Mumbai Metropolitan Region. The development is expected to benefit from the upcoming Metro Lines 4 and 5, the proposed Thane Ring Metro, the ThaneโBorivali Twin Tunnel, Eastern Freeway Extension, Thane Coastal Road and the proposed elevated corridor linking Thane to Navi Mumbai International Airport.
Commenting on the launch, Abhijeet Maheshwari, CEO, Piramal Realty, said the company remains focused on creating communities backed by timely execution rather than merely announcing projects. He said the new phase builds upon an already operational residential ecosystem with established infrastructure, open spaces and community amenities.
With Phase 2, Piramal Realty is expanding its residential footprint in Thane at a time when demand for integrated townships with established social infrastructure and improved regional connectivity continues to gain momentum. The company expects the next phase to strengthen Piramal Vaikunth’s position as a large-scale mixed-use residential destination in the Mumbai Metropolitan Region.
