Joint Ventures9 April 2026 at 05:17 pm
Prestige Group Enters ₹9,000 Cr Residential Opportunity in Versova, Mumbai with ABIL Group
AI Summary
Prestige Estates Projects Limited, one of India’s leading real estate developers, has entered into a joint venture with ABIL Group to develop a land parcel through Aaramnagar Realty LLP in Versova, Mumbai. The development spans approximately 6 acres and offers a total development potential of around 1.7 million square feet with an estimated Gross Development Value (GDV) of over ₹9,000 crores. The proposed development is envisaged as a premium residential project, catering to the growing demand for high-quality developments in Mumbai’s western suburbs.
Key Highlights
- Prestige Group and ABIL Group enter into a joint venture for a residential project in Versova, Mumbai.
- The development spans approximately 6 acres with a total development potential of around 1.7 million square feet.
- The project has an estimated Gross Development Value (GDV) of over ₹9,000 crores.
- The proposed development is a premium residential project catering to the growing demand in Mumbai’s western suburbs.
- Versova is a sought-after micro-market due to its strong social infrastructure, connectivity, and proximity to key commercial hubs.