Prestige Group Launches Rs 12,000 Cr Housing Project in Ghaziabad

New Delhi, Apr 29 (PTI) Real estate firm Prestige Estates Projects Ltd on Tuesday said it has launched its first housing project in Delhi-NCR with a revenue potential of Rs 12,000 crore to tap strong consumer demand.

The company will develop a housing project at Ghaziabad, Uttar Pradesh.

In a regulatory filing, the company said it has entered into the National Capital Region (NCR) residential market with the launch of the first phase of 'The Prestige City-Indirapuram'.

With all approvals secured, Prestige Group has begun marketing the first phase -- Oakwood and Mulberry -- which together represent a Gross Development Value (GDV) of over Rs 9,000 crore.

When the second phase "Mayflower" is launched, it will take the total GDV of the entire residential development to a staggering Rs 12,000 crore, it added

The first phase will have 3,421 premium homes across 19 towers, with unit sizes ranging from 1,681 sq ft to 6,026 sq ft.

The township is spread across 62.5 acres in Indirapuram Extension on National Highway 24.

Irfan Razack, Chairman and Managing Director, Prestige Group, said: "Today marks a monumental chapter for Prestige Group. We are thrilled to make our debut in the vibrant NCR residential market with The Prestige City- Indirapuram. This project embodies the scale, ambition, and integrated lifestyle that Prestige stands for."

Prestige Estates Projects Limited is India's leading real estate developer, with a legacy of over three decades.

It has delivered over 300 projects across residential, commercial, retail, hospitality, and mixed-use sectors.