Prestige Estates Enters NCR With Rs 12,000-Crore Housing Project In Ghaziabad
With all approvals secured, Prestige Group has begun marketing the first phase — Oakwood and Mulberry — which together represent a gross development value of over Rs 9,000 crore.
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Real estate firm Prestige Estates Projects Ltd. on Tuesday said it has launched its first housing project in the National Capital Region with a revenue potential of Rs 12,000 crore to tap strong consumer demand.
The company will develop a housing project in Ghaziabad. In a regulatory filing, the company said it has entered into the NCR residential market with the launch of the first phase of 'The Prestige City-Indirapuram'.
With all approvals secured, Prestige Group has begun marketing the first phase — Oakwood and Mulberry — which together represent a gross development value of over Rs 9,000 crore.
When the second phase 'Mayflower' is launched, it will take the total GDV of the entire residential development to a staggering Rs 12,000 crore, it added. The first phase will have 3,421 premium homes across 19 towers, with unit sizes ranging from 1,681 sq ft to 6,026 sq ft.
The township is spread across 62.5 acres in Indirapuram Extension on National Highway 24.
"Today marks a monumental chapter for the Prestige Group. We are thrilled to make our debut in the vibrant NCR residential market with The Prestige City- Indirapuram," Irfan Razack, chairperson of Prestige Group, said. "This project embodies the scale, ambition, and integrated lifestyle that Prestige stands for."
Prestige Estates Projects Ltd. is India's leading real estate developer, with a legacy of over three decades. It has delivered over 300 projects across residential, commercial, retail, hospitality, and mixed-use sectors.
