Business Update22 Mar 2024, 12:55 am
Prestige Group Acquires 62.5 Acres of Prime Land in NCR for Integrated Township: Costs ₹2468 Crores
AI Summary
Prestige Group, a leading real estate developer in India, has acquired 62.5 acres of prime land in Indirapuram Extension, NCR, for ₹2468 Crores. The land will be primarily used for residential development, along with education and retail spaces. This development, which will be branded as 'The Prestige City', will span over 10 million square feet with a projected Gross Development Value (GDV) of more than ế210,000 Crores.
Key Highlights
- Prestige Group acquires 62.5 acres of prime land in NCR using a ₹2468 Crore investment.
- The land will be used for residential, education, and retail developments, as part of a larger integrated township branded as 'The Prestige City'
- The project, spanning over 10 million square feet, is expected to have a GDV of more than ɛ210,000 Crores.