Prestige Group Buys Land in Bengaluru for Housing Project - Rs 462 Cr

New Delhi, Oct 28 (PTI) Realty firm Prestige Group has acquired 17.45 acres of land in Bengaluru for Rs 462 crore to develop a housing project.

The land is located at Whitefield in the Karnataka capital.

"The acquired land will be planned for residential development spanning approximately 2.68 million sq ft of developable area. The cost of acquisition is about Rs 462 crore," the company said in a statement.

Prestige Group Chairman and Managing Director Irfan Razack said, "We are excited to expand our presence in Bengaluru with the acquisition of this prime 17.45-acre land parcel adjacent to our recently launched project -- Prestige Raintree Park."

"This strategic addition not only complements our existing project but also strengthens our vision to create transformative spaces that drive long-term value for our communities and stakeholders," he added.

Prestige Group, one of the leading real estate firms, develops homes, office, retail and hospitality projects. It is also into property management and warehouses.

The group has completed 302 projects spanning a developable area of 193 million sq ft as of September 2024.