Prestige Estate Indirapuram Rera Latest News

Prestige Estates Projects is currently awaiting the Real Estate (Regulation and Development) Act (RERA) clearance for its upcoming project, Prestige City Indirapuram, located in the National Capital Region (NCR). According to Irfan Razack, the Chairman and Managing Director of Prestige Group, the company is optimistic about receiving these approvals soon, potentially within this month. The timely acquisition of RERA clearance is crucial as it will enable the company to commence sales bookings for this significant project.

The Prestige City Indirapuram project is expected to generate substantial revenue, with an anticipated topline revenue of Rs 12,000 crore. Razack has indicated that there is considerable customer demand for residential properties in this area, which has been described as having pent-up demand. However, he emphasized that sales cannot begin until all necessary regulatory compliances are fully met.

In addition to Prestige City Indirapuram, the company has several other projects lined up across various locations including Bengaluru, Mumbai, Goa, and Chennai. The fourth quarter of FY25 is projected to be particularly robust for Prestige Estates as they aim to meet their sales target of Rs 24,000 crore for the financial year ending March 2025.

Overall, the successful launch and subsequent sales of the Prestige Indirapuram Launch Date project hinge on obtaining RERA clearance promptly. This development reflects both the company’s strategic planning and responsiveness to market demand in a competitive real estate environment.