The Prestige Group, a prominent real estate development firm, has recently made a significant acquisition. They have acquired 62.5 acres of prime land in Indirapuram Extension, Ghaziabad, in the National Capital Region (NCR) of India. The cost of this acquisition amounts to 468 crore, and it includes a revenue share.

This strategic move by the Prestige Group is aimed at expanding its footprint in the NCR real estate market. The project planned for this land spans over an impressive 10 million square feet of saleable area, with a projected gross development value (GDV) surpassing 10,000 crore. The acquired land will primarily be developed for residential purposes, complemented by educational and retail facilities1.

According to Venkat K Narayana, the group CEO of the company, they are looking forward to launching the project within the next two quarters and completing the development in approximately four years. With this acquisition, the Prestige Group strengthens its presence in the National Capital Region. This ambitious venture by the Prestige Group demonstrates their commitment to growth and innovation in the real estate sector.