Home / Business and Economy / Prestige Group Expands NCR Footprint With Gurugram Deal
Prestige Group Expands NCR Footprint With Gurugram Deal
3 Sep
Summary
- Prestige Group secures 17.14 acres in Gurugram for development.
- Project targets 2.8 million sq. ft. saleable area with Rs 5,600 crore GDV.
- The acquisition significantly boosts Prestige Group's NCR presence.
Prestige Group has entered into a joint development agreement in Gurugram, marking a significant expansion of its presence in the National Capital Region (NCR).
The agreement pertains to a 17.14-acre land parcel located in Sector 109, Gurugram. This development is projected to yield approximately 2.8 million sq. ft. of saleable area, with an estimated Gross Development Value (GDV) of Rs 5,600 crore.
Strategically situated with connectivity to the Dwarka Expressway, the project offers seamless access to key residential, commercial, and social hubs in Gurugram and Delhi. This acquisition enhances Prestige Group's residential development pipeline in Northern India.
Irfan Razack, Chairman & Managing Director, Prestige Group, expressed optimism, stating that the NCR market's response has been encouraging since their entry last year. He anticipates the region will become a significant contributor to the group's future sales trajectory, reinforcing their commitment to building scale in NCR.
