Prestige Group expands NCR presence with strategic 62.5-acre land acquisition
Prestige Group, a leading real estate development firm renowned for its commitment to excellence, has made a significant stride in the National Capital Region (NCR) real estate market with the acquisition of 62.5 acres of prime land in Indirapuram Extension. This strategic investment, amounting to ₹468 Cr along with a revenue share, is set to bolster Prestige Group’s presence in one of India’s most dynamic real estate regions.
The land is earmarked for a mixed-use development primarily focusing on residential units, along with educational institutions and retail outlets. This initiative aligns with Prestige Group’s mission to foster integrated urban communities that epitomize the essence of modern living. Branded under the successful ‘The Prestige City’ format, the new project promises to offer a lifestyle experience unlike any other, featuring a large township that seamlessly blends residential, retail, and recreational spaces.
Commenting on the acquisition, Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, expressed enthusiasm about the opportunity to extend ‘The Prestige City’ brand to the NCR. Following its success in Bengaluru, Mumbai, and Hyderabad, this move demonstrates the group’s dedication to crafting large-format integrated townships and developments that set industry benchmarks.
Venkat K Narayana, Group CEO, highlighted the project’s scale, covering over 10 million sq. ft. of saleable area with a Gross Development Value (GDV) expected to exceed ₹10,000 Cr. The project’s launch is anticipated within the next two quarters, with completion targeted in 4 years, showcasing Prestige Group’s commitment to diversifying its sales portfolio and enhancing its footprint in the region.
Prestige Group continues to adhere to the highest standards of design, execution, and customer service, ensuring that ‘The Prestige City Indirapuram’ reflects the group’s core values of innovation, integrity, and excellence. With this acquisition, Prestige Group not only cements its position in the NCR market but also reaffirms its commitment to providing enduring value and an unmatched lifestyle to its stakeholders.