Prestige Estates Ventures into Delhi-NCR with Bold Township Plans

Prestige Estates Projects Ltd is set to invest approximately Rs 7,000 crore in developing a comprehensive township in Ghaziabad, part of its strategic expansion into the Delhi-NCR real estate market. This initiative aims to capture significant market share, projecting Rs 10,000 crore in potential annual sales.

Prestige Estates Projects Ltd, a major player in India's real estate market, has announced a substantial investment of around Rs 7,000 crore to develop a township in Ghaziabad, marking a significant expansion into the Delhi-NCR property market. The Bengaluru-based firm is capitalizing on its recent acquisitions of crucial land parcels in Delhi, Noida, and Siddharth Vihar, Ghaziabad.

Led by Chairman and Managing Director Irfan Razack, the Prestige Group aims to target end users with its ambitious 'Prestige City' project, featuring diversified residential spaces alongside retail and educational components. The project, expected to launch soon, has already drawn significant investments from buyers, anticipating sales exceeding Rs 10,000 crore.

Besides residential ventures, Prestige is expanding its commercial footprint with a project in Delhi's Aerocity. As the firm continues to explore further development opportunities in Delhi-NCR, Razack expresses optimism about the region's vast potential for lucrative returns, despite navigating challenges such as regulatory approvals.

(With inputs from agencies.)