Big Breaking News Prestige Estate Launching Soon 62.5 Acres Land in Indirapuram Extension
The Prestige Group has made a significant move in the real estate market by acquiring a substantial land parcel of 62.5 acres located in Prestige Indirapuram Extension, Ghaziabad. This acquisition is part of the company’s strategy to expand its footprint in the National Capital Region (NCR), which is one of India’s most dynamic real estate markets.
Details of the Acquisition
The cost associated with this land acquisition amounts to Rs 468 crore, which includes a revenue-sharing agreement. This strategic investment is aimed at developing a large-format integrated township under the ‘Prestige City Indirapuram Extension’ brand, which has already seen success in other major cities like Bengaluru, Mumbai, and Hyderabad. The project is expected to cover an impressive 10 million square feet of saleable area, with a projected Gross Development Value (GDV) exceeding Rs 10,000 crore.
Project Vision and Timeline
According to Venkat K Narayana, the Group CEO of Prestige Group, the company plans to launch this project within the next two quarters and aims for completion within four years. Prestige Indirapuram The development will primarily focus on residential purposes but will also incorporate educational and retail facilities, thereby creating an integrated urban community that enhances modern living standards.
Company Background and Market Position
Prestige Group has established itself as one of India’s leading real estate developers with operations across 13 major locations. Prestige Estate Siddharth Vihar Ghaziabad As of September 2023, the company boasts over 300 completed projects, totaling more than 180 million square feet developed across various segments including residential, office spaces, and retail. Furthermore, it has 56 ongoing projects covering an additional 86 million square feet, along with plans for another 43 projects spanning approximately 85 million square feet.
The company holds a robust land bank exceeding 728 acres, indicating its strong position for future developments. Prestige Estate Indirapuram Reviews It has received high credit ratings from CRISIL (DA1+) and ICRA (A+), reflecting its financial stability and reliability in executing large-scale projects.
Prestige Indirapuram Reviews this acquisition not only signifies Prestige Group’s commitment to expanding its presence in NCR but also highlights its strategic approach towards developing integrated communities that cater to modern lifestyle needs.
